- Fees From £169
- Area Midlands
- Client Type Private
- Category(s) Estate Planning, Lifetime Planning
Having worked hard to buy your own home, understandably clients want to ensure it pass to future generations, however even with a carefully drafted will there are many reasons ultimately your home may not pass to your family.
In particular 1 in 3 women and 1 in 4 men will to go into care; it is anticipated 1 in 2 of those from future generations will need residential care. If you go into care the Local Authority can take almost everything you own to pay for your care – that includes your house.
To try and avoid the loss of their home many people want to transfer the ownership of their house to their children now, but this presents significant problems. First, if the local authority finds that you transferred the property deliberately to deprive yourself of assets to pay for care, your home will be included in the means-testing equation anyway. And why else would the property have been transferred, there are few benefits and many negatives.
Consider, what will happen if your children become bankrupt or estranged from you? What if they die before you of get divorced? They own your house and you have lost control and are therefore in a very vulnerable position. Also when they eventually sell your house if it was not their principle private residence as a result they may have a tax bill even if you didn’t go into care.
The Home Protection Trust can help with many of the above problem. Firstly it is important to know that during your lifetime nothing changes on a day to day basis; however you have the peace of mind that you have secured your property for the long term future prosperity of your family.
- You carefully select your trustees – these are people you trust such as your children, they are simply looking after your home; it does not legally belong to them, it belongs to the trust.
- Your home is placed into the Trust by transfering the legal ownership to the trustees at the District Land Registry. The trust deed contains a list of potential beneficiaries who can benefit from the Trust; typically these would include you, your children, your grandchildren and any other people you might wish to benefit. Your trustees permit you to live in your home until your death. The deed gives you power to hire and fire the trustees; therefore if the trustees do not comply with your wishes you simply remove them as trustees and appoint replacements who will comply with your wishes. Generally there are no such issues with trustees as they have your best interests at heart.
- Your trustees will administer the trust in accordance with your Letter of Wishes which will be drafted along with the trust. Your Letter of Wishes usually reflects your instructions in your will as to how you wish your estate to be distributed.
- Your home will be held outside of your estate, so upon your death your trustees can sell the house without the need for a grant of probate. Because your home is protected in the trust your beneficiaries can use it to help their personal situation, e.g. their own tax planning, protecting the house from a pending divorce or bankruptcy settlement, providing for grandchildren’s education or protecting the asset from their own issues such as drink, drugs, gambling addictions or their own spendthrift nature. Should you enter residential care before you die then your house belongs to the trust and is not yours to be used to pay for care.
Any homeowner, single or couple, can set up a Home Protection Trust as long as they enjoy full ‘mental capacity’ which means you must have an understanding of what the trust does and the implications of setting it up. Ideally homeowners should not have any charge on their home.
- Single HPT
- A trust designed to protect your home against various risks including future changes in your beneficiaries circumstances, suitable for a property owned by a single person.
- Includes Land Registration fee
- Disbursements may apply
- Price inclusive of VAT
- Joint HPT
- A trust designed to protect your home against various risks including future changes in your beneficiaries circumstances, suitable for a property owned by a couple.
- Includes Land Registration fee
- Disbursements may apply
- Price inclusive of VAT
Fill out the form below and we will contact you to confirm appointment availability in your area and book for a specialist to meet with you.
Our advisors are available to come to you at your home or workplace between from 8:30am to 9:00pm Monday to Thursday, and from 9:00am to 4:00pm of Fridays.
Where possible we will always sit down and discuss things with our clients face to face, there are no forms to complete, we just provide expert advice.
All of our staff are trained to the highest standards to ensure you always get the best advice, we are also members of the Institute of Professional Willwriters.
Mr BiffenAll our questions were answered with full and simple explanations. The advisor who visited our home made us feel relaxed, although a serious subject we actually enjoyed our meetings. He was able to find life cover for us when we thought it wouldn’t be available. We were so impressed and will recommend Dunham McCarthy to everyone we know.
Mrs BhirthThis was a very, very good service. Superb communication at all times keeping us informed throughout the process. We were very pleased with the gentleman who came to our house and he gave superb advice for the benefit of our family. I have been recommending this service to everyone I know.
Mr TsangI decided to take advantage of the free Will offer. It was so easy and took hardly any time at all. Most of it was completed after work meaning I didn’t have to take any time off work or go anywhere else. We found it to be so helpful that everything could happen when it was convenient for us. We would definitely recommend.
Mrs FordePrompt, friendly service. We had looked at various will writing companies, when a friend our ours recommended Dunham McCarthy. They delivered exactly what was expected but they worked around our work and went through things in detail. Why we had been putting off writing our Wills for so long I do not know.
Mr & Mrs SpeedWe were very pleased with the whole process. The service was convenient and professional, everything was discussed in simple terms, we have recommended Dunham McCarthy to all our family and friends for will writing.
Ms HarrisThe will writing process was so convenient; the staff were professional, knowledgeable and personable. They put me at ease throughout the whole process. I now feel reassured and would happily recommend their services to others.
Mr NugentThe service was excellent, in fact the whole process was very thought provoking – Dunham McCarthy guided us through everything clearly. Nothing was too much trouble, all of the appointments were worked around us. We were really pleased, so much so we have recommended to 6 other family members.
Mr BaileyWhen our Will was done the advisor walked us through the whole service brilliantly. We liked the fact that the Will was then brought out to our home to check through, it was also great how everything was explained in detail. What was even better is that advice was given but not pressured into doing anything we didn’t want to.
Miss LopezI found the service very friendly and I am delighted to have received a Free Will that would have ordinarily cost me £119.00. Communication was prompt. When they went through the Will they made sure they went through everything thoroughly and clearly. Overall, I can't sing there praises enough I am very happy & pleased.
Mrs CageEverything was great about the service and the advisor was very nice. they came out to see us twice and were on time and explained everything so well in great detail. They also saved us a lot of money on our life policies and made sure it was structured in a way that gave us peace of mind should the worst happen - we would highly recommend them.
Mrs StevensI thought the service was really convenient, I was very impressed. I found the adviser polite, professional and helpful, and I found the process thorough, which gave me time to consider everything properly so I didn’t feel rushed.
Ms HamiltonBirminghamA truly fantastic service. The advisor that came out was lovely, very approachable & put me totally at ease and we can now rest assured everything is sorted - total peace of mind.