Published on: 18th August 2020

Casey & Associates Family Trusts For Homeowners

Why are our Family Trusts for homeowners particularly popular in Tunbridge Wells, Maidstone, Brighton, Guildford and Epsom? We are not quite sure. They are very popular throughout the South East but they are particularly popular in the aforementioned towns. Perhaps our clients who live there are more worried about losing the family home to pay for care fees than in the other areas we cover.

There is the other topic that most couples do not really like talking about which is “sideways disinheritance”. This occurs when the survivor of a couple meets someone else in later life and the family home goes off sideways to the new spouse.

Here are two examples where a family trust for homeowners is beneficial.

Example 01 : Mr & Mrs Green are in their seventies. They have worked hard throughout their lives. They own their home and want to pass it on to their children. Mr Green dies. All his assets go to Mrs Green.

A few years later Mrs Green’s health starts to deteriorate. Mrs Green goes into care. All of Mrs Green’s assets are assessable by the Local Authority to pay for her care. Many would say that is fair. But is it fair that Mr Green’s assets are also assessable. He has died so will never need care.

The Casey & Associates family trust will protect Mr Green’s half of the family home from care fees assessment from the moment he passes away through until Mrs Green passes away.

Example 02 : Mr & Mrs White are in their sixties. They have worked hard throughout their lives. They own their home and want to pass it on to their children. Mr White is taken ill at an early age and dies. All his assets go to Mrs White.

Mrs White is healthy and active. She is a member of a number of local societies and seems to keep meeting Mr Brown at various meetings. After a couple of years they become partners and then marry. Mrs White gets on very well with Mr Brown’s children from his first marriage which ended in divorce. Unfortunately, Mrs White’s children do not get on well with Mr Brown. It all started over a rather silly argument concerning Brexit. Mrs White is a few years older than Mr Brown and dies first.

She leaves everything to Mr Brown on the understanding that when he dies he will leave “her” assets to “her” children. The rift between Mr Brown and Mrs White’s children grows. Mr Brown changes his Will to leave everything (including Mrs White’s assets) to his children. This is “sideways disinheritance”.

The Casey & Associates family trust will protect Mr White’s half of the family home for his children from “sideways disinheritance” from the moment he passes away through until Mrs White passes away.

For more information about the Casey & Associates family trust for homeowners please contact us using the contact page on our website here or telephone 01732 868190.

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Our Covid-19 policy is now that if you require general information about our Wills, Lasting Powers of Attorney or Trusts then we will carry out a telephone appointment. However, if you wish to give instructions to one of our Consultants we are offering Face to Face appointments from 02 September 2020 in most of the areas we normally cover (subject to Government advice). To see the areas we normally cover please click here.

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