Should I Put My Home in Trust?
Once again, this is something we don’t directly advise on, but our sister company is a specialist firm of solicitors who advise homeowners whether or not a property trust would be appropriate. Recent changes in legislation have apparently vastly increased the proportion of people who will save money for their family by using a property trust. Here is some information from them. Did we mention you get a good discount on Trusts through them if you buy a funeral plan through us?
The Family Bank Property Trust
– an introduction to putting your home in Trust.
Please note: this covers the situation in England and Wales. This information is not personal advice.
Wouldn’t it be great if your family had a resource which could:
- Potentially saves more in Probate Court Fees than it costs.
- Lend or give to family members to get started on the housing ladder.
- Subsidise or pay school, University or training fees for generations.
- Pay or lend money for weddings or funerals.
- Help family members out of tough financial situations.
- Family businesses could avoid reliance on banks.
- Support members on benefits without cancelling their benefits.
- Protect family finances from being further diluted.
- Protect homes and finances from unexpected creditors.
- Reduce Inheritance Tax for some.
- Look after family members or even pets in the long term.
- Make charitable contributions in your name.
- Allow family members to contribute or open “branch offices”.
Until recently this sort of facility was only available to the rich, who took full advantage to increase their wealth through the generations. The rest of us had to pretty much start from scratch every generation, with perhaps a little help. Now this facility is available, especially tailored to your unique family circumstances, for fees which the majority of families can afford.
You can start your Family Bank© at any time, but there are circumstances where they are just not appropriate. Bearing in mind the massive potential benefit to your family, would it not make sense to find out whether you could start your own Family Bank©?
Costs – an important topic!
We like to think that our costs are relatively modest, despite our expertise. Our process is:
- Free initial discussions, within reason then
- £60 fact find fee to go through things in detail if you go ahead then we ask for one third of the full fee.
- A further third is payable with the signed instruction form we then create the Trust documents and collect the balance.
- You sign and return the documents, then we make the changes at the Land Registry.
- Ongoing support is optional.
Who should be reading this?
- Anyone who owns at least some of their home.
- Anyone who runs a business.
- Anyone who wants their hard work to create lasting security for their family.
- Anyone who thinks it likely there will be a dispute about their Will or who has excluded anyone who might challenge it.
For more information: