Having worked hard throughout your life to buy your own home and to secure  ownership of what is likely to be your most valuable asset, understandably you want to ensure that it will ultimately pass to your family and that it will be protected for their benefit. Yet worryingly, there are many different ways in which your home could be lost to them or become a burden to them during your life or upon your death.

Examples of The Home Protection Trust;

The Home Protection Trust
  • If you are not in a position to manage and maintain your home then who has the legal right to do so on your behalf ?

  • Should you no longer reside in your home then your family may wish to rent the property in order to maintain the home and gain the best financial rewards for you, what legal rights do they have to do so ?

  • When you die, whether you have a Will or not, people can come out of the woodwork and claim a share of your estate !

  • Whilst most of us wish our children to inherit our home, timing can make all the difference. If a child is having issues for example their marriage is in difficulty, their share of your home could be lost to other parties and not pass to your children as you intended.

  • Our families wants and needs are constantly changing, leaving your home to specific members of your family may deprive others of the vital funding they need for circumstances which did not exist when you wrote your Will.

  • A disabled or vulnerable member of the family will need your help and support both during your lifetime and following your death. How can you ensure this will happen?When you die, the costs and time it takes to administer your affairs can be a negative factor, this often means that the potential value of your home and inheritance for your family is not fully realised.

  • Inheriting your home directly may increase future family inheritance tax liabilities, and ultimately mean more is lost to the taxman.

We have requests from people who want to transfer the ownership of their house to their children now in order to avoid its loss should they enter long term care, but this presents its own problems. What if your children die, divorce, become bankrupt or estranged from you? . What about the capital gains tax liability your children may have to suffer? If your intention is to give your home away in order to avoid its value being used to pay for your care in the future, then this is likely to be considered ‘asset deprivation’ and simply will not work.

As Property Lawyers and Trust and Estate Practitioners, Goddard Dunbar can advise you as to the advantages and disadvantages of placing your house into trust. The ideal situation is to own nothing but to control everything, and to ensure that such control can pass on to others who in turn will own nothing but gain control of everything. This concept often reserved for the rich and wealthy to protect their assets and to simplify the management of such assets  is now available to you and will help solve all of the problems discussed, and more.

With this in mind, Goddard Dunbar’s Home Protection Trust can help prevent the problems we have highlighted from arising. With your home in a Home Protection Trust, you no longer own the property, but you still control it.

Our Fees

  • Home Protection Trust – £2,400 plus Disbursements.

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