A Property Trust Will
If you don't have this Trust written in your Will, the following scenarios may unfortunately occur:
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After your death, if your spouse remarried and then passed away, their new spouse could inherit the whole property. Consequently, your children could lose out completely.
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The entire property value could be at risk of being used to contribute towards care fees leaving nothing for your Beneficiaries.
How does this work?
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Your property is severed at HM Land Registry to make you Tenants in Common, meaning you each own a specific share of the property (usually 50/50).
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Upon death, the deceased person's share of the property would be held in Trust and managed by the Trustees you appoint.
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The surviving spouse can continue living in the property for as long as they need and have the freedom to move to a new house or downsize if they so wish.
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If the surviving spouse were to need care, only their half of the property could be used towards their care costs safeguarding the deceased person's share.
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When the Trust comes to an end, the property is distributed to your Beneficiaries.