Legacy Family Property Trust

Legacy Family Property Trust

What is a Legacy Family Property Trust?

A Legacy Family Property Trust (Property Protection Trust) is a way to ring fence your assets as a way to protect them. This can be useful to ensure that when you die, your children will inherit without dilution, even if your partner re-marries.  

The Legacy Family Property Trust

You can only create a Protective Property Trust whilst both you and your partner are alive. With couples, the property is usually divided 50/50, though this can vary according to circumstances.

After the death of the first partner, their share of the property is placed into the Trust through the Will and after probate it is then administered by the trustees.

The Will also specifies who the ultimate beneficiaries of this share in the property are to be (usually the surviving children). Under the terms of the Trust, the surviving partner/spouse has the right to live in the property for the rest of their life.

On the death of the second partner the Trust comes to an end and the property passes absolutely to the surviving beneficiaries. 

Why would I need a Protective Property Trust?

A Protective Property Trust protects the deceased person’s share of the property for the people they want to benefit from it (usually their children) even if the surviving partner or spouse remarries. This protects the children’s share of the property from “sideways disinheritance”.

 

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Testimonials

After my initial enquiry about making my will I had a phone call from a member of LegacyWills team, namely Siobhan O’Toole.She explained everything in simple language so that I knew exactly what I had to do. She was very patient when answering my questions, which made me decide to go ahead with using LegacyWills.

Betty Forny, 5 Days ago

The team at legacy wills have been very helpful and extremely courteous when talking through the full process with me. Would highly recommend.

Miss Jane Adiller, 7 Days ago

I found the advisor extremely helpful, explaining clearly any points which I was unsure about. I received my Will some days later and was pleased that the company followed up to check that I was happy with it. I did not feel pressured in any way and I would recommend this company to anyone wishing for a straightforward and efficient service.

Linda Leary, 9 Days ago

Legacy wills explained every step very clearly and anything you forgot to ask they encouraged you to contact them, they also made you feel that no question was to big or small they would always find the answer.

Juliet Patricia, 20 Days ago

Everything I requested was handled with patience and total professionalism, and the end result was a very simple and straightforward process which covered everything that I wanted. Thank you very much Legacywills.

Ian Slater, Over a month ago

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