Protective Property Trusts

Have you ever considered how you and your partner own your property?  There are two ways in which a couple can own their home.  You can own as Joint Tenants or Tenants in Common.

Houses are mostly owned on a Joint Tenancy basis. If one partner should die, the surviving partner automatically becomes the sole owner. This rules out either partner gifting their share of the property to anyone else, even their children.

Owning your house as Tenants in Common will allow you to gift your share of the property, normally half, to your children.  This half of the property is then held in a Protective Property Trust for your children until they reach the age of 18.  A Protective Property Trust also allows your surviving partner to receive a Lifetime Interest in your share of the property which means they can remain in the house until, for example their death. 

A Protective Property Trust is also a possible means of preventing local government agencies acquiring your assets should you come to depend on long term care.

If you do own your home as Joint Tenants we can provide you with a Severance of Tenancy agreement which can be signed by one or both owners of the property to sever the tenancy making it possible for you to leave your share of the property in trust for your children. 

A Protective Property Trust will also safeguard your children's inheritance should your surviving partner re-marry.

Don't leave it too late to arrange your Protective Property Trust.  If your home is owned as Joint Tenants and one of the owners die before a Trust can be put into place, nothing can be done after the event.

For further information on Protective Property Trusts call us FREE on  0800 4402319 or email admin@prolegalservicesgroup.com