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Property Trusts |
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What is a property trust ?
I have been advised that if this is written into a will then 50% of the property value is excempt from any claim from a local council if I am taken into care.
If this is correct then what should the additional cost be when making the will ?
I need additional information from you before I can answer this.
The local authority will not be interested in what you have stipulated in your will.
I think what you may mean is that if you transfer 50% of your property in trust now the local authority will not take that value into consideration if you are taken into care. Please confirm. Please also advise if you own your property solely or with your wife.
Answered by:Mark Keenan, Editor
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