Government statistics show that some 69,000 homes are seized each year in order to fund long term care. A Protective Property Trusts (or PPT) is the best way to prevent this from happening.
There are basically two different ways that any couple can own their home. Most commonly property is owned on a Joint Tenancy basis. In which case, the surviving partner automatically becomes the sole owner in the event of a death. This means neither partner can gift their share of a property to their children, or anyone else.
Providing you and your partner own your property as Tenants in Common, a PPT allows each one of you to leave your share of the property to your children, whilst simultaneously allowing the surviving spouse to remain in the property as long as they wish.
If, like most people, you own your home as Joint Tenants, Nuttall Wills and Trusts can provide you with a severance of tenancy agreement which, as you might imagine, severs the tenancy and makes a PPT possible.
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