A Protective Property Trust is a legal arrangement designed to protect a share of a property for beneficiaries while allowing a surviving spouse or partner to continue living in the home. This type of trust is commonly used in estate planning to ensure that a property’s value is safeguarded, particularly when there are concerns about future care fees or remarriage affecting inheritance.
Who Needs a Protective
Property Trust?
A Protective property trust will cost is particularly beneficial for individuals who:
Want to protect their share of a property – If
a couple owns a home as tenants in common, they can use a PPT to safeguard
their share for children or other beneficiaries while ensuring the surviving
partner retains the right to live in the property.
Wish to prevent
disinheritance – If
the surviving spouse remarries or changes their will, the trust ensures that
the deceased’s share of the property is still passed down to the intended
beneficiaries.
Are concerned about
care home fees –
Without a trust, the entire value of a property may be assessed for care costs.
A protective property trust helps shield the deceased’s share from such
assessments.
Have children from
previous relationships – A protective property trust ensures that the property is ultimately
passed to the children of the deceased, rather than solely to a surviving
partner’s heirs.
Protective Property
Trust Will Cost – Affordable at IWC Probate Services
The cost of setting up a Protective Property
Trust varies depending on legal fees and the complexity of the estate. However,
IWC Probate Services offers affordable and transparent pricing, making it
accessible for those who wish to secure their property for future generations.
By choosing a Protective Property Trust, individuals can gain peace of mind
knowing that their assets are protected and distributed according to their
wishes.