Protective Property Trust

If a person is taken into care then, under the Community Care Act 1990, the local council have the right by law to seize their home, put it up for sale and use the proceeds of sale to support their long-term care costs, and leaving only £23,500. Obviously, if this happens then it might mean that when they eventually die there could be very little of their estate left for their surviving family.

How can you avoid this happening?

It is illegal to deliberately transfer your own property to relatives or trusts if your prime motive is to avoid paying long-term care costs, as there are rules about intentional deprivation of assets. However, it is not illegal for you and your partner to each make a provision in your Wills, that upon the first death, the deceased's half-share of the family assets and/or home, is left in trust for the surviving spouse who has a lifetime right to live in the property (i.e. a life interest), and then to you children or such other beneficiaries on their eventual death.

You will need to own your home as Tenants in Common. This is something that we can check for you by inspecting your title deeds and, if you do not, it is a straightforward and low cost process to sever any Joint Tenancy and convert to a Tenancy in Common and make the necessary application to the Land Registry to update their records.

Premier Solicitors’ Protective Property Trust Will has been specially designed for this purpose, and so could protect significant sums of money that you have worked hard and saved hard for all of your life for the benefit of your children.

Learn more about Fixed Fee Trusts with our Trust FAQs.

Call us today on 01234 35 80 80 to speak to a member of our qualified team.

Premier Solicitors LLP is a Limited Liability Partnership registered in England & Wales, number OC319566.

Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisors.

Premier Solicitos LLP is authorised and regulated by the Solicitors' Regulation Authority (SRA) of England & Wales with SRA number 443806, and is bound by the rules found in the Solicitorâ€™s Code of Conduct, a copy of which can be viewed at http://www.sra.org.uk/handbook/

Premier Solicitors LLP uses the word â€œpartnerâ€ to refer to a director of the company or an employee or consultant with equivalent standing. A list of the directors is available for inspection at our registered office, Premier House, Lurke Street, Bedford MK40 3HU. A list of members of the Chartered Institute of Taxation and ICSA is available at our registered office.

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Company address:
Premier Solicitors
Premier House, Lurke Street, Bedford, Bedfordshire, MK40 3HU
Telephone: 01234 35 80 80
Fax: 01234 34 81 12

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