Property Protection Trust

Property Protection Trust (PPT) is a legal arrangement designed to protect a person’s share of a property from certain circumstances, such as long-term care costs, inheritance tax, or remarriage after the person’s death. It is commonly used as part of estate planning to safeguard assets and ensure they pass to intended beneficiaries.















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Here are a few key reasons why will writing is essential:

Preservation of Assets

By creating a Property Protection Trust, an individual can protect their share of a property from being used to cover long-term care costs. This can help ensure that the intended beneficiaries, such as children or other loved ones, inherit the property or its value.

Inheritance Tax Planning

A Property Protection Trust can also be utilised as a strategy to mitigate inheritance tax liabilities. By placing a share of the property into the trust, the value of that share is effectively removed from the individual’s estate, potentially reducing the inheritance tax burden on the estate.

Flexibility and Control

The person creating the trust, known as the settlor, can specify the terms and conditions under which the trust operates. This includes designating the beneficiaries and outlining how the property should be managed and distributed. The settlor can retain control over their share of the property during their lifetime while ensuring its protection and desired distribution after their passing.

Protection against Remarriage

A Property Protection Trust can prevent the surviving spouse or partner from remarrying and diverting the property’s value to a new spouse or their heirs. This helps ensure that the settlor’s intended beneficiaries, such as children from a previous relationship, can benefit from the property.

Professional Trustee Services

It is common to appoint a professional trustee or a trusted individual to manage the Property Protection Trust. The trustee ensures that the terms of the trust are followed and manages the property and its income, if applicable, for the benefit of the beneficiaries.

Here are a few key reasons why will writing is essential:

Preservation of Assets

By creating a Property Protection Trust, an individual can protect their share of a property from being used to cover long-term care costs. This can help ensure that the intended beneficiaries, such as children or other loved ones, inherit the property or its value.

Inheritance Tax Planning

A Property Protection Trust can also be utilised as a strategy to mitigate inheritance tax liabilities. By placing a share of the property into the trust, the value of that share is effectively removed from the individual’s estate, potentially reducing the inheritance tax burden on the estate.

Flexibility and Control

The person creating the trust, known as the settlor, can specify the terms and conditions under which the trust operates. This includes designating the beneficiaries and outlining how the property should be managed and distributed. The settlor can retain control over their share of the property during their lifetime while ensuring its protection and desired distribution after their passing.

Protection against Remarriage

A Property Protection Trust can prevent the surviving spouse or partner from remarrying and diverting the property’s value to a new spouse or their heirs. This helps ensure that the settlor’s intended beneficiaries, such as children from a previous relationship, can benefit from the property.

Professional Trustee Services

It is common to appoint a professional trustee or a trusted individual to manage the Property Protection Trust. The trustee ensures that the terms of the trust are followed and manages the property and its income, if applicable, for the benefit of the beneficiaries.

It is important to note that the rules and regulations surrounding Property Protection Trusts can be complex, and their effectiveness may vary depending on individual circumstances and changes in legislation. Therefore, it is advisable to seek professional advice from a qualified estate planning specialist or solicitor who can provide guidance tailored to your specific needs and objectives.

The Will Genie will guide you on creating a Property Protection Trust as part of your estate planning can provide peace of mind by protecting your assets and ensuring they are distributed according to your wishes.

Contact us today to schedule a consultation and take the first step toward securing your future and providing for your loved ones. Our dedicated team is here to assist you with all your will writing needs.

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