With many people becoming increasingly worried about the cost of long term care and the devastating effect that this can have on families and loved ones.
Wills can include different styles of trusts. These are termed testamentary trusts as they only come into effect after the person created them has passed away. They can direct your executors what to do with certain assets that you are leaving and different trusts do different jobs. Talk to us about your needs.
With many people becoming increasingly worried about the cost of long term care and the devastating effect that this can have on families and loved ones, it can become increasingly important for parents to make provision for protecting their most expensive assets from assessment from care fees. Whilst this cannot be seen as right for everyone it can approve very attractive in a number of circumstances. Unlike will trusts, which come into being on death, lifetime trusts are established straight away. Your home is gifted to the trust, which allows you to carry on living in it. The rationale is that if you need residential care at some point in the future, you no longer own a house and can only be assessed on minimal assets.
Our Property Protection Trusts are created for us by our trusted partners at Premier Solicitors. They have a wealth of experience in dealing with trusts like these and because all circumstances are different we are able to offer comprehensive advice for your situation.
Set in the heart of rural Kent, Mark Pearson Associates was set up to give good, clear advice on all aspects of Wills, Lasting Powers of Attorney and Trusts. With 40 % of the population estimated to not have a current up to date will, are you one of them?Free Consultation
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