A ‘Protective Property Trust’ is a good way to ensure that at least your share of your  family home will pass to your children or, other chosen beneficiaries, whilst making sure that your spouse or partner has security to live in their home, and be given the option to move should they wish to do so.

The majority of couples own property as ‘joint tenants’, meaning that when one of them dies the property will pass to the survivor and after second death, on to the children.  However, if the surviving spouse should remarry, or need residential care, the children could end up with nothing.

Therefore, a Protective Property Trust in your Will can avoid both of these situations and provide security to the surviving spouse as well as the beneficiaries.

To enable the Trust you will have to convert the ownership from joint tenants to joint tenants in common. This way each owner can leave their share of the home in trust for their chosen beneficiaries after the second death, while at the same time providing for the remaining spouse to live in the house for the rest of their life.

Community Care Tax – the most vicious tax of all!

The Community Care Act 1990 introduced this tax and can come close to being a 100% tax on your wealth.  The local council ‘inherits’ around 70,000 homes each year depriving children and grandchildren of vital inheritances.  However, much of this drain is avoidable by taking some simple planning precautions.

Anyone who owns property should make professional advice a priority for financial planning – act early or the local council could disinherit your children..

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