Property Protection Trust Croydon
What is a Property Protection Trus Croydon?
A Property Protection Trust Croydon, sometimes known as an Asset Protection Trust, is a will that works a little differently to other trusts, as your wishes regarding the financial status of your property(s) is granted straight away, and not on your death.
What happens when you create a PPT is that your property is gifted straight away to the PPT, but allows you to still live in your property. Ultimately it protects the value of your property and your surviving spouse or partner. Upon your death, half the share of the property will pass into the PPT, meaning that your partner is cared for financially. What then happens upon their death is that the trust fund then passes on to any remaining children or other named individuals stated in the will.
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Who should create a PPT?
How is the PPT implemented?
With our will writing service Croydon, we can help both you are your partner to write a will, with both of you leaving the share of your home info the PPT that is incorporated into part of the will
What is also important to remember when creating a PPT, is that the property should be owned with your joint names, and that you are both stated as tenants. This is needed for the half share of the property to pass to the remaining spouse upon your death.