Protective Trust

[greecemad]

I am undecided between a protective trust will and a 2 year Discetionary Trust Will. The estate would amount to £500,000 including the house at £350,000. I would want to protect the house from the local authority but it seems that both types of will can do that.
I would welcome your advice.
Thank you in anticipation.

Derek.

[Lee Young]

On death who do you want to inherit your estate?

Why limit it to a 2 year discretionary trust?

A protective trust is usually used to ensure that the life tenenat can not dispose of his or her interest in the trust - the protective mechanisms kick in on divorce or bankruptcy.

What you probably need is a straightforward life interest trust for your spouse.

[greecemad]

On death who do you want to inherit your estate?

Why limit it to a 2 year discretionary trust?

A protective trust is usually used to ensure that the life tenenat can not dispose of his or her interest in the trust - the protective mechanisms kick in on divorce or bankruptcy.

What you probably need is a straightforward life interest trust for your spouse.

Lee,
We would be leaving our estate to each other and then to the children and grandchildren.
What is the difference between a life interest trust and protective property trust?

Thanks, Derek.

[Lee Young]

A protective trust is a particular type of trust recognised by legislation.

A "protective property" trust is probably just a marketing name for a life interest trust designed to protect against care fees.