Property Protection TrustCroydon

Property Protection Trust

 

Many people living within the UK, currently do not have a will.

If you do not have a will, now is the time to take action and to seriously consider writing a will.

Doing so will protect your assets once you die so that your loved ones are looked after financially upon your death.

Protect Your Partner

In a property protection trust, the surviving partner can continue to reside in their family home or profit from any income it generates upon the death of their partner. They will also have the ability to move house if they wish. Because half of the assets are in the trust, the inheritance will be secured for the eventual beneficiaries, usually the children. This remains the case even if one of the children is divorced or becomes bankrupt while the surviving partner is still alive.

There are many different types of will that are available for both individuals and couples. Sometimes it can be a little confusing as to what wills are best suited to your personal needs and circumstances, and this is when we can help guide you.

Our professional and friendly will writing professional will help to guide you through the process of writing a will, and will advise you on the best will for your needs. We also arrange a time and place that is convenient for you. One type of will that many people consider is a Property Protection Trust.

What is a Property Protection Trust ?

A Property Protection Trust , 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.

Residential care costs

Who should create a PPT?

How is the PPT implemented?

Contact Trusted Will Writing Croydon Today

UK Will Writing Statistics

According to research by unbiased.co.uk in 2016, 75% of those surveyed had not reviewed their Will in the last ten years!
75%
In 2013 a survey by Certainty.co.uk revealed that 67% of UK residents were unaware of the location of their parents’ Wills!
67%

A Trusted Company!

To find out more about our will writing service all you have to do is give us a call. One of our friendly team members will chat with you about your personal circumstances and what you wish to include in your will. We will then schedule a visit, at a time of your choosing, for one of our Legal Consultants to come and visit you

They will gather all of the necessary information together in order to prepare and write your will. Once this stage has been completed you will then receive your completed will for approval. The whole process takes an average of 28 days. To find out more information please do give us a call today. We offer a fixed fee and guarantee the lowest local will writing prices.

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Writing wills is the only way to ensure that your money, possessions, property, as well as your investments, has gone to the people or the causes that you care of.

How to write a will

Find out the value of your property. You can draw a list of your lasting assets and your debts too.

The assets that usually make an estate are

  • motor vehicles
  • your company
  • your home, furniture and other household pieces of stuff
  • all your savings (bank/building society accounts)
  • insurance,
  • pension funds
  • investments like stocks and shares
  • other property that you own
  • other personal belongings registered under your name

Then calculate the amount of debt you have. Debts may be a mortgage, a bank overdraft, a credit card balance, loans or equity release. These assets should be valued on a regular basis since their value keeps changing over time. To clarify this you can contact the people responsible to know how long lasting they are.

The will should be transparent regarding your assets. Ensure you have stated well who you would like to gain from your will. Decide where the remains of the assets will go (any money or property that is generally left after meeting the funeral along with administrative expenses, taxes, and legacies). State what to be done if one of your beneficiaries dies before you. If you desire to give any particular gifts to specific individuals like charity, ensure that you have included the correct information like the full names, addresses, and the charity’s registered number. Erroneous information might make your chosen charity to be denied the gift. This is a long lasting decision make sure it is satisfactory to you.

Executors deal with the distribution of your assets once you are dead. It involves a lot of work and accountability, thus think about the people you appoint cautiously.

It’s now the time to write your will

Make your own will:

Make your own will and ensure that it is valid. It should be correctly drafted and signed.

Lawyers:

It is typically best because they offer legal advice. Look for one who specializes in wills. Ensure that they are registered with the relevant body.

Banks:

Some of the banks have will-writing services as well as advice regarding asset planning.

Professional wills writers:

these are not qualified solicitors; hence, they might not be regulated. Do thorough checks if they are registered before you choose one? You do not want to mess up because of less research on solicitors.

Ensure your will is valid

Your will should be in writing, and only you should sign it and witness by at least two people who should as well sign it in your presence. You should have the mental capability of making the will and also understand the effect that it will have. Finally, you should make the will willingly and not from anyone else pressure. The beneficiaries, their family or civil partners are not supposed to act as witnesses; otherwise, they will lose their right of the inheritance. They are not even supposed to be present when the will is being signed. It is not advisable for an executor to be a witness.

Making a will in sickness

The will can be signed on your behalf if you are not capable provided that you are in that room and you have the mental capability to make the will. It should contain a clause stating that you understood everything prior to signing it. In case of a severe ailment, you might require a statement from a medical practitioner certifying that you have understood what you are about to sign then you can get an attorney. You can as well appoint somebody else to have a short-term power to sign your legal documents by giving them a general power of Attorney.

Keep updating your will

You are supposed to review your will after every five years or after a significant change like a moving house or new grandchild, and you should never make changes to the original will. For minor amendments, you can add just an addition, called a codicil that must be signed and witnessed just like the will, even though the witnesses don’t need to be the same. For significant changes like remarrying or divorce, the will requires to be changed. You must make a new one and cancel the previous one.

Alex
Alex
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Many thanks for all your help in making the will out for us, and putting us right when we really needed it. Well worth the money many thanks!
Rebecca
Rebecca
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I found this technique to writing a will so conveniently done, I would strongly recommend it to all of my freinds. thanks for all your support.
Zara
Zara
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Incredibly simple as well as helpful reply to any queries as well as consistent responses to guide you through the process. Highly suggested!
Josh
Josh
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Affordable and also excellent service for creating straightforward wills
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