Can I take my house out of Trust?

RAS

Spendless, Immediate Post Death Interest trust. Protects half the asset value for the children, if the survivor needs care or remarries. Only works with tenants in common, so make sure they have severed the tenancy, costs £3 to check.

Not unheard on the forum for a will to be written, witnessed etc and no-one to sort out the tenancy.

Pollycat

MacPingu1986 said:

Keep_pedalling said:

MacPingu1986 said:

The house isn't yours anymore and it's not yours to sell - it's the property of the trust and the trustees are legally bound to act in the best interest of the beneficiaries (your children). Any restrictions or obligations in the trust deed itself also need to be considered and complied with.

As others have stated above, without unanimous consent of all beneficiaries (assuming they are all adults who can consent), it would be very difficult to see how the trustees giving away trust property to you would be in the beneficiaries best interests, unless you were paying a market value for the property.

These trusts can be undone if all parties agree and hopefully the children will want what is in their parents best interest not their own. I just hope that the sharks who sold this trust were not also appointed as trustees.

Hopefully the beneficiaries are happy to give the house they effectively own back to their parents, but it's absolutely dependent on them being able and willing to do this.

But before we get to this point there needs to be the power to terminate the trust early and distribute the property to the beneficiaries, so they can onward transfer to the parents and that power is dependent (amongst other things) on the beneficiaries all being adults legally capable of consenting and being absolutely entitled to the property.

Agree 100% that whoever advised the OP to do this are absolute sharks

In fairness, this came about because the OP (and/or family) were attempting 

MuffinTop12 said:

to avoid paying care home fees 

As someone whose Dad was self funding in a care home and Mum was part funding until she received CHC, I find the concept of trying to avoid paying for care quite awful.