protective property trust/wills urgent help

thinisaz

edit-sorry i think this has gone in the wrong section, could it be moved if needed.

I need some urgent advice for my mother who has had a chap around tonight to sort out her will.
Shes is concerned that if she goes into care that she will lose the house and her savings, probably about £180,000 total assets.

the problem is that she thinks she has been sold a PPT and from what she describes that seems to be the case, she says its definately a 'trust' and basically if she is taken into care the house is in trust as well as her money and the government cannot touch it.

Now after looking on the internet it seems that as a single woman that she cant even have a PPT, she bought the house herself about 5 years after hers and my fathers divorce was finalised, so its all hers.

my sister lives with her and has done for about 3 years and contributes towards costs.

This guy has told her that she will have complete control of her money, that the government cannot take it under any care conditions (home or in house) and that if she goes into a home that she will still be able to access and spend as and when she wants.

The shock to me was the cost, a basic standard will has a cost of £95, which i thought was acceptable, however they charged her £1700 for this 'trust' and in with that they gave her a free will, the cost should of been £1995 + will but if she wrote him a cheque tonight nearly £400 off.

Help please, what do you think she has been sold ( apart from a canoe and no paddle)

thanks

Mojisola

Sorry, I don't know the answer but it sounds like a rip-off to me. I'd be contacting Trading Standards tomorrow and asking their advice.

We have a trust in our wills. We each own half the house and when the first dies, that half goes into a trust but it doesn't come into force until one of us has died so that can't be the same as the thing your mother has been sold.

How old are your mother and sister? If a person over 60 or who is disabled is living in the house when the owner needs to go into a home, the home is exempt from the assessment.

One thing I always say is that if someone has saved for their future and they need to go into a home, they shouldn't look on that money as wasted. If your mother visits some council-funded homes, she may decide she would prefer to spend her money on living somewhere she can choose.

thinisaz

I understand that but the only thing i can find relevant to costs of care homes etc is PPT, there is no other option at all. This makes me think that is what hes tried to sell her.

Hes a sales rep after a deal or he would be qualified to write the will there and then.

Whats the best option for a will?

claretmatt

It appears that your mother is being advised to transfer her property into trust now. This differs to the PPT whereby half the property is transferred into trust upon death.

The Trustees (who ever they are) will now own the property and have various duties and obligations to meet.

Furthermore despite what he says there is no guarantee that this action will protect the property against care home fees.

This is a big decision for your mother and the family and one that any self-respecting Will writer would discuss in detail with her and the family so they know how it would all work and any associated pitfalls.

Although I can't comment directly on the fees as do not know the work involved, the offer of a discount if she "signs up tonight" does seem to be quite pushy

Errata

Although I can't comment directly on the fees as do not know the work involved, the offer of a discount if she "signs up tonight" does seem to be quite pushy

Well, I can comment. If £400 can be knocked off at the drop of a hat then it's grossly overpriced.

OP I hope your mum hasn't signed anything. She needs to fully understand all the ins and outs; perhaps you could research or talk to Age UK so you can explain things to her in language that makes sense to her.

alanq

If someone offers a discount to sign on the spot it is likely that it is to stop you from looking around to discover that you are being sold a pup or that the same is available cheaper elsewhere.

Stop the cheque and cancel the contract unless/until the implications are fully understood. There appears to be a 7-day cooling off period.
http://www.consumerdirect.gov.uk/before_you_buy/be_aware_of/doorstep-selling#named1