Protective Property Trust Will

Care home fees – using your will to protect your money

If a couple owns a house, and they are both still alive it can be worth using their Wills to set up a Protective Property Trust Will.

This is how it works: The couple normally own the house as joint tenants, which means that on the first death the survivor automatically becomes the owner of the whole house. The total value of the house (less the last £23,000) can then be used to pay for care home fees if the survivor goes into care.

How Purely Probate can help you

STEP 1	STEP 2	STEP 3	What you get . . .
Telephone 01458 850146 or email info@purelyprobate.co.uk We will take instructions in person or by phone.	We check the title to your property; prepare your Will and the documents to sever the joint tenancy.	Our fee of £350 covers the Will (unless very complex), land registry search fees, severing the joint tenancy and registration with the land registry.	A protective property trust Will that could save you tens of thousands of pounds and protect half the value of your property.

Tenants in Common

A trust could help save at least 50% of the value of the property. If the couple had severed their Joint Tenancy to become 'Tenants in Common', they would each have owned a fixed 50% share of the property. Then if their wills contain a Protective Property Trust, when the first spouse dies 50% of the property would have been held on trust for the couple's children.

The survivor is entitled to stay in the property for life, and can even move house. If the survivor then goes into a care home only 50% share of the property could be used for the care home fees, because the share of the first partner to die would be held on trust for the children.

Protective Property Trust Wills must be written when both partners are still alive and in good mental health.

It does not have to be difficult to make a will, although it is an important document and you should give it careful thought. Start by completing our Will Request Form and completing the questionnaire. We will then ring you. We may advise a meeting or sometimes it is possible to take instructions over the phone. In either case we will agree a price with you.