Life can change in ways we never expect and it is hard to imagine how things will evolve once we've died.
It does go on without us though and for those we leave behind the trials and tribulations of life still lie in store. Giving a surviving partner and other successors some security against changes in fortune is a rational concern and priority for many.
We can protect them from unforeseen circumstances by placing our share of the value of a home in a protective property trust. Embrace Life allows you to safeguard your share of the value of a property from certain eventualities once you are gone.
It allows you to pass it on to someone other than your co-owner so, in the case of your survivor re-marrying, your portion of the property value is ring-fenced and won’t fall into the hands of someone you’ve never known.
An Embrace Planning Property Trust also protects your share of the property from wealth assessors if your survivor falls into financial difficulty or needs to move into a residential care home.
Why do I need an Embrace Planning Property Trust?
If you die without placing your share of your property into a property trust it can easily fall into the hands of a stranger. This means those you wished to inherit your wealth may never benefit from it.
The best way to guarantee this doesn’t happen is to place your share of your property into a protective property trust.
If your surviving partner requires medical or residential care, the home you hoped to bequeath to family could be at risk. If your survivor remarries but is outlasted by their next partner your home may go to people you’ve never met.
A protective property trust prevents your share of the home being taken away from the beneficiaries you wish to receive it.
Embrace Planning protects your share of a property from becoming an accruable asset when circumstances out of your control dictate. It allows you to be flexible with your share of a property so your successors are guaranteed to gain from your estate.
What is included in my Embrace Planning Protective Property Trust?
Embrace Planning offers a secure protective property trust so you know your share of a property will reach the right people and be used for the right ends.
Your Embrace Planning Property Trust will:
- Name your trustees as the people you feel have the integrity to manage your Embrace Later Life Property Trust.
- Give your surviving partner the right to live in the property for the remainder of their days.
- Allow you to pass on your share of the value of the property to someone other than the joint-owner.
- Give your surviving partner the right to sell the property and buy another, with profits from the sale split between them and the trust.
- Place your share of the value of a new property bought by your surviving partner into your Embrace Later Life Property Trust.
- Protect your share of the value of the property from wealth assessors claiming assets against debts accrued by your surviving partner.
- Protect your share of the value of the property from wealth assessors covering medical or residential care costs for the surviving owner, should you wish.
- Prevent your share of the value of the property being passed on to a new partner of the joint-owner should they remarry after your death.
An Embrace Planning Property trust will ensure your share of the value of a property is used for the reasons and reaches the people you want.
To find out more call 07770 915770 one of our team can arrange to visit you at your home.