Home Protection Trusts
Putting your home into trust can be a very wise move to protect it for your eventual beneficiaries from most unexpected eventualities;
At Richardsons Legal Services we offer a FREE initial meeting without obligation to discuss this with you in detail so that you are aware of all the facts before deciding, and for us to ensure it is a practical solution for you.
While your property is in trust you will be able to move home and the new property will be protected. If you downsize, the excess will benefit from the protection of the trust but can be used by you for any purpose you wish, home improvements, a dream holiday, buy a holiday home, etc. You have total control and flexibility. Everything you can do now you can still do.
The Trust can be kept going for up to 125 years giving additional protection for your beneficiaries, protecting their assets for them in the future from such things as divorce settlements.
By transferring your property into trust now you are also simplifying the Probate procedure. A Grant of Probate is not required to deal with your property on death and your beneficiaries can benefit immediately without waiting months for probate or paying for probate to be obtained.
This can lead to very significant saving in Probate fees and simplify matters for your beneficiaries, often these savings can be more than the cost of the Trust in the first place.
Not only a single property, but multiple properties, money and other assets can be put into the Trust to protect the assets for generations ahead, and to keep the assets outside the estate of your eventual beneficiaries and create a possible inheritance tax saving for them.
Putting property and other assets in trust now allows you to maintain control of the property and assets during your lifetime and you will have clearly established who is to receive them following your death. Unlike a Will a claim cannot be made against the Trust under the Inheritance (Provision for Family and Dependents) Act.1975 by people who may otherwise have had a claim against your assets.
All our Trusts are drafted by our specialist Trust Corporation or Trust Barristers of at least 10 years standing . Further details on request.