Pass your share of a property to those that may otherwise miss out.

Keeping Your Family Home in the Family

At Genesis Wills and Estate Planning, we understand how important it is to protect your family home for future generations. One of the ways we can help you achieve this is through a Property Trust, which can be created when a property is jointly owned. Our team of experts is ready to visit you in the comfort of your own home at your convenience to discuss the solutions that will offer the best protection for your assets, your family, and your legacy.

What is a Protective Will Property Trust?

A Protective Will Property Trust, available through Genesis Wills and Estate Planning, is an enhanced type of Will designed specifically to offer greater protection for your share of the property. It ensures that when the first owner passes away, their share is safeguarded from potential claims or interference by third parties, including the possibility of assessment for care home fees, should the surviving owner require long-term care in the future.

The Trust gives joint property owners the flexibility to determine how their share of the property is managed after their death. This means that your share of the home can be directed to beneficiaries other than the remaining joint owner, offering peace of mind that your wishes will be honored. Even if the surviving joint owner remarries or gifts their share to someone else, your portion remains fully protected for your designated beneficiaries.

Why is this important?

By using a Property Trust, you ensure that your share of the property will not be assessed if the surviving owner faces financial difficulties or requires residential care. This protection ensures that your hard-earned assets stay within the family and are passed down according to your wishes, without being diminished by outside factors.

What Does This Mean for the Surviving Partner?

The surviving joint owner retains the right to live in the property for the rest of their life, offering stability and security. They cannot be removed from the home by the trustees (the individuals you appoint to manage the Trust), ensuring that they are supported during a challenging time.

Should the surviving owner wish to sell the property and move to a new home, they can do so freely. However, any profit made from the sale will be divided equally between them and the trustees, maintaining the balance of ownership.

Typically, the surviving owner will manage the Trust alongside another trustee, often a family member, giving them some control while ensuring that the Trust's purpose is preserved.

At Genesis Wills and Estate Planning, we believe in helping you protect what matters most, with bespoke solutions tailored to your individual needs. Get in touch with us today to learn how a Protective Will Property Trust can secure your family’s future and safeguard your assets.