For most people the main asset you own is your home.  Most people wish to ensure that the whole of the value of the property is left to their loved ones.  Unfortunately there are three major threats to you achieving your wishes.

The first threat is the post first death/remarriage scenario where the surviving spouse or partner remarries and then either:-

• Predeceases the new spouse leaving no valid Will.  Everything passes by the Laws of Intestacy to the new spouse effectively disinheriting your children and/or loved ones.
  
  
• Predeceases leaving everything to the new spouse/partner effectively disinheriting your own children and/or loved ones.
  
  
• Divorces, losing 50% or more of the estate (and your children’s inheritance).

For more information on protecting your home click here for an information sheet

The second threat is the post first death scenario where the surviving spouse or partner owns property jointly with a new spouse or partner and dies first.  The property passes automatically to the new spouse/partner disinheriting your children.

The third threat is local authority care home fees should the surviving spouse/partner need to go into care.  With 1 in 2 men and 1 in 3 women spending their last years in care the likelihood is you will be affected.  For example 4 years in a care home (the average is just over 4 years) costing £700 per week will cost £145,600 so it is easy to see how this could quickly deplete your wealth.

By carefully planning your estate and writing the correct Wills you can avoid these potential pitfalls, ensure your children/loved ones inherit what is rightfully theirs, whilst at the same time retaining control and protecting each other.  A win-win situation!

A Protective Property Trust Will does precisely what it says:  It helps you to protect your property.  A Trust is set up so each spouse or partner can determine where their share of any property is distributed on second death. These Wills are suitable to avoid the subsequent relationship scenarios above and for newly married couples with children from former relationships and for protecting against future creditors including mitigating long-term care costs.