Property trust will

sgriffiths

My husband and i own our home. We have two daughters and would like to know that when either of us dies or need to go into a 'home' our daughters will inherit the house. We are considering a 'property trust will' does anyone have any advice or knowledge please.

Oldernotwiser

So, who do you think will pay (or should pay, for that matter) for your care, should you ever need it?

McKneff

For this sort of thing a solicitor is the only way to go.

*Robin*

Do you have savings put aside to pay for later-life care, should either of you need it?

Jinx

I think you could possibly just transfer the house into your daughters names. However of course they then own the house and could evict you! Def see a solicitor........

claretmatt

In a nutshell you change the house to tenants in common (50/50 ownership) and then upon the death of the first their share goes into trust for the benefit of your daughers. There should also be a right for the surviving spouse to remain in the house.

It can be beneficial to reduce any future care home fees as it is impossible to sell half the house and also protects to an extent half the house should the surviving spouse remarry.

Transferring the property to your daughters name would not be wise as it invariable throws up taxation problems.

Mojisola

Have you visited any care homes? See the difference between the ones the council will fund and the others that you might be able to afford and then decide whether you want to keep control over your assets for your own benefit.