What Is A Property Trust Will?

A property trust will aims to protect at least half of the value of your property from an assessment of care fees and unwanted third parties.

The current threshold for receiving the maximum financial support from the Local Authority in England is £14,250.00. As long as your assets are above this figure, your estate would be vulnerable towards care fees. This is a low figure and eventually you can end up leaving little to no inheritance for your family.

However, if you own a property jointly, you are able to protect at least one half share of the property. This is achieved by completing a Will whereby you would be leaving your share of the property in trust for the ultimate benefit of your chosen beneficiaries, such as your children. The terms of the property trust would have 'ring-fenced' your share of the house on your death. This allows the surviving spouse or partner to be able to live in the property during their lifetime. This ultimately provides security to your spouse or partner and also ensures that in the event of your passing you have safeguarded your share of the property for your beneficiaries.

The Property trust is also effective in cases where you would want to ensure that if you passed, your share of the property remained preserved for your children in the event your surviving partner or spouse moves onto another relationship.

There are many benefits to completing a Property Trust Will and provided in this day and age where care fees have become increasingly common if you own a property jointly, completing a property trust will is a great prevention policy in protecting at least half of the value of your property from falling vulnerable towards care fees.