wills and trust fund
in Deaths, funerals & probate
6 replies 224 views
My husband died 3 years ago and left his half of the family house in trust to our 4 children. I am looking to update my will and have been advised that I should have my half of the house in a trust so that when I die my children will not have to go through probate and also my half would not be able to be used to pay potential care home fees as it would technically already belong to my children. I've never heard of or come across anyone who has done this so would appreciate advice as to whether this is something I should be doing
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Leaving your house in trust is pointless it does not protect your share from residential care costs and it does not avoid probate. Even if you put your house in trust now it would be considered deliberate deprivation of assets so again would not avoid residential care costs.
Frankly anyone with sizeable assets would be mad to put any future care they may need in the hands of a cash strapped LA, you will have to wait until. You a pretty decrepit befor they would fund it and you risk adding up in over my dead body grange.
If your will does need updating please speak to a local solicitor not some will writing company looking to charge you silly fees for setting up worthless trusts.
The relative died 2.5 years later. Another relative has been in a home three years now, and is rapidly heading for their letter from the king, despite major health issues and Covid.
So even if you need care, if you've got a decent property, there will be something left for your beneficiaries.