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Asset Protection Middlesbrough

Asset Protection & Property Protection Trusts

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Property Protection Trust was £645 now £595.
Asset Protection Trust From £1900 plus disbursements (POA)

Asset Protection Middlesbrough

An Asset Protection Trust (also known as a Lifetime Discretional Trust or Living Trust) enables you to leave your family the majority of their inheritance in Trust, ensuring it goes to them and not to someone else or another institution.

The Trust is essentially a safety deposit box, where you can place your property and any other financial assets. The Trust is setup whilst you are alive and will protect your assets from future threats. When you die the Trust is then transferred to your chosen beneficiaries.

The advantage of a Trust is that you are the owner of the Trust whilst you are alive. The assets remain yours, and so unlike transferring to relatives, you remain in control. You are the owner of the Trust and you are also a trustee and beneficiary of your own Trust.

You can still sell, move or use your assets when in Trust as they belong to you. From legal services to trust planning, at Complete Estate Protection we will ensure a great service, just call our team today.

Why should you consider a Trust?

Many people worry about the rising cost of care home fees and the possibility that there will be nothing left to leave to their families when they die because it will all have been spent on care.

A home is many people’s most valuable asset and after working hard to buy your home and pay off your mortgage, it is frustrating and heart breaking to see your home having to be sold to cover ever increasing care costs. Unfortunately, paying for residential care in a care home is expensive but many people have no choice in the matter. If you have income and assets, and particularly if you own a property, you will pay at least part and possibly full residential care home fees (known as self-funding).

Many people consider whether they should just transfer their property into the names of their children and simply give it away. There are many risks with this which could potentially end up in you losing your home to someone other than the person you gave it to e.g. because of bankruptcy, divorce, death etc.

In the right circumstances, a Trust can be a way of providing a gift to those who you intend whilst still enjoying the use of the property and protecting property or other assets to pass on to your loved ones in the right way and at the right time for them.

In the right circumstances, a Trust can be a way of providing a gift to those who you intend whilst still enjoying the use of the property and protecting property or other assets to pass on to your loved ones in the right way and at the right time for them.

Can I protect my home from care fees? Please see this short video below to learn more:

What are the benefits of an Asset Protection Trust?

One of the main benefits of a Trust is that there is no requirement for probate. With the average cost of probate being 4% of the estate, a Trust offers a significant saving, not only in terms of money, but in actual time and effort it saves for loved ones at a stressful time. Assets held in Trust are usually transferred in a matter of weeks.

Assets held within Trust are disregarded during any care fees means assessment. In order for local authority to successfully contest the Trust they have to prove the client deliberately deprived themselves of assets in order to avoid paying for care. As long as you are reasonably fit and healthy when the Trust is setup, the Local Authority can’t assume that avoiding paying for care was the purpose.

Assets held within Trust are also protected from remarriage. Incorporating a Protective Property Trust along with an Asset Protection Trust If the deceased’s spouse remarries means that the inheritance would not pass to another family.

A Trust also enables parents to pass on the inheritance without creating any inheritance tax liability. Assets held in Trust will not form part of the beneficiary’s estate so will not attract inheritance tax issues.

Ultimately a Trust can be a fair way to ensure your most valuable assets are protected throughout your lifetime and that they go to the people you had intended in the event of your death.

Property Protection Trust

As more and more people are living to an older age, a major concern is the ever-growing cost of care should they need it. There is also the danger that a remarriage could mean that money goes to another family against the will of the person. In such cases, their home could be used as the funding.

In the event of the first death of either partner, your home will default to the surviving spouse. If the survivor then goes into care or gets remarried, your inheritance could be at risk of going elsewhere. A Property Protection Trust can help you protect your share of the home and ensure that it is passed onto your loved ones as you intended.

How does a Property Protection Trust work?

A Property Protection Trust essentially enables you to safeguard your share of the property. The trust is activated when the will comes into force in the event of the testator dying.

The trust appoints a life-tenant, usually the spouse or partner, who has a right of residence in the property for the remainder of his or her life. A clause can be inserted so that the life interest ends upon remarriage. The trustees, often the children, cannot evict the life tenant. If later on in life the surviving spouse wants to sell the property, thereby releasing some equity, they can do so.

A Property Protection Trust ensures each child is guaranteed their planned inheritance or distribution of assets, ensuring that your part of the property goes to your children.

Having spent a lifetime saving hard to fund your property and repaying a mortgage, you would want to ensure that your children benefit.

For more information on our services, get in touch with the Complete Estate Protection team today.

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hi, Daniel has just provided wills for my wife and I as part of a charitable donation from complete estate protection to Teesside Hospice. The service Daniel gave us was both friendly and very professional and we're very pleased with the outcome. I would have no hesitation in recommending Daniel and CEP to anyone who's looking to have a will written up.kind regards to Daniel and to all who may read this.Ian McDonald
Bikehook Mcd
15:40 22 Jan 24
Excellent Service! Reasonable prices, very friendly and accessible staff. Than you.
Med Med
11:13 27 Nov 23
We found Daniel very friendly and efficient, he explained everything clearly and answered all our questions. We came away with peace of mind that everything had been sorted to protect the future for our family. Thank you.
teresa pybus
13:37 03 Nov 23
A excellent service. Daniel was extremely friendly and professional, fully helped with all my requests.Would definitely recommend !
Margaret Myers
17:36 02 Nov 23
Was recommended by my friend to use Complete Estate Protection to deal with arranging my will, Highly recommend Daniel who went though everything with me step by step & was very professional & good at explaining everything I needed to know about writing my will.
Carole Talbot
11:49 11 Sep 23
Contacted original to update our wills and appointment made. We found Daniel very friendly and helpful with different options explained and ways to safeguard ourselves for the future. Everything was explained clearly and all questions answered and we were very happy with the process.
Sue Barton
12:31 17 Aug 23
Excellent, professional and speedy service. Daniel was extremely friendly and professional and fully understood our needs. We have no hesitation in highly recommending Daniel and his Company, and at a very competitive price.
Jacqueline Saul
13:57 04 Apr 23
Recommended by our brother-in-law, we experienced a veryprofessional, well explained, very efficient service. Completedin our required time frame to fit in with the availability of the signatories.We would not hesitate to recommend to friends and colleagues.
Trevor G Wright
10:44 05 Jan 23
Excellent service.Local & reliable.Dan is an expert, professional & respectful.Listened to what my parents fears were & what they wanted.Dan has now fully protected my parents assets which they have worked hard, all their lives for & as a family we know their wishes & Dan has made that process as easy as possible when it comes.One huge weight of my their mind as they go forward to enjoy their retirement.
nicola clements
15:35 16 Sep 22
I contacted Daniel from Complete Estate Protection to amend my will and, from the very start, he was extremely professional and friendly.Nothing was too much trouble and he explained all my options and answered all my questions with ease.If I could give him more than a 5* rating, I would and I have since recommended him to family and friends.
david johnson
09:05 12 Sep 22
A very professional and quality service.Daniel arrived promptly at my mother's care home where he diligently explained the whole procedure of the Will Writing Service and Power of Attorney procedure.In no time at all we were signed up and my mother and I were extremely pleased with which Daniel handled all of our queries.I would not hesitate to recommend this service to friends and family. A truly first class service.
Chris Thomas
17:42 11 Jul 22
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