Home Protection Trust Scheme
Home protection trust services Milton Keynes
Home protection Trust services Milton Keynes are here to advise and help, please read on.
Trusts have been around for many years and have been used by very wealthy families to save their wealth from being eroded.
However it is still possible to use this Estate Planning tool for your family’s benefit.
Trusts can be used in many ways:
To avoid expensive probate fees,
Keep control of your estate without the court intervening.
Provide for disabled children.
As long as they are setup correctly Trust are not complicated.
They comprise of 4 main ingredients, Beneficiaries, Assets, Rules, Trustees.
It is not too difficult for family members/ trustees to manage a trust. Probate can be a long, complicated and expensive process, during this time your family could suffer from financial hardship.
What is the scheme?
The Home Protection Scheme is a type of trust created to protect your family home and your right of residence. The trust will ensure that the property will pass to your chosen beneficiaries, after your death, with the minimum of hassle and delay. It may also avoid your home’s value being taken into account by third party creditors.
Who is the scheme for?
This scheme is suitable for a single person or a couple who own their own home free of any mortgage. The value of the home will be less that £325,000 (£650,000 for a couple who own in equal shares).
What will our partner solicitor provide you with?
The scheme consists of:
- A Lifetime Interest in Possession Trust;
- Transfer of your home into the names of the trustees;
- Full documentation to register the gift and trust with the Inland Revenue (where applicable).
For further information please contact:
- Last Wishes Ltd
- David Sample - 07770 331199
Home protection Trust services Milton Keynes