Lifetime Property Protection Trust
This form of trust is available to individuals or couples who wish to achieve maximum protection for their family home during their lifetime and beyond.
There are many threats to a property throughout one's lifetime and after death. With appropriate planning one can better protect their assets, the most valuable of which may well be the family home.
We can establish a lifetime trust which can hold just the property but has the ability to receive other assets as well if appropriate. We will transfer the property into the trust, with family members (for example children) usually acting as Trustees. The client(s) retain the home as the principal private residence. Where necessary we will change the title at the Land Registry and make the appropriate Capital Gains Tax election to ensure there are no adverse taxation consequences as a result of this action. Our belt and braces approach to this service ensures we have studied every angle and use the appropriate experts to achieve the desired protection. In fact we are so convinced of the robustness of our service and solution, that providing a client is in good health and in no foreseeable need of long term care at the time of setting up the trust, we would offer professional legal defence to any formal challenge raised.No-one else (to my knowledge certainly) makes that commitment, but it's one we feel happy to make, knowing the confidence we have based on our experience and success. We stand by our reputation in this field.
There are a number of potential benefits to this service, including:
The trust also has the effect of reducing the estate included in a 'means test' by a Local Authority, in the circumstance that the client latterly requires long term care. A potential benefit of the trust is therefore ring-fencing the property from future care costs.
The Advanced Protection Plan is the signature protection solution from Collective Legal Solutions, including an LPPT, plus appropriate Will(s) plus the creation and registration of Lasting Power of Attorney(s) for either Property & Finance or Health & Welfare (excluding OPG registration fees only). (Alternatively a 'package' solution tailored to your requirements - we're nothing if not flexible). Maximum family wealth protection for around the cost of only 1 month's long term care costs. This is fast becoming the solution of choice for many clients who want to ensure their children's and often grandchildren's inheritance is protected for and controlled by, the family itself.
Arrange a free consultation to see if this is the right solution for you.
First of all the Chancellor announces the intention to raise the Inheritance Tax threshold to £1m, then hot on the heels of that news, an announcement last week that the £72K Care funding cap due for 2016 is now to be delayed until 2020. Goo ...read more