The alternative is putting your house in trust to protect you and your home from those risks. Putting your house in trust has potentially immediate inheritance tax (IHT) charges. You also need advice on how to preserve capital gains tax reliefs on a later sale of your home. There may also be tax returns to do. On setting up a trust there are.. When your house is put in trust, the ownership of the house passes from you to the trust. The fact that you are the trustees does NOT mean that you therfore own the assets of the trust. Property, whether a house or other assets, goes into a trust for the benefit of specific beneficiaries, I would assume your children/grandchildren etc.

Putting a house in trust to avoid care home fees is it a good idea?

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The Pros And Cons of Putting Property Into a Trust

Our highly personal service reflects our culture, which is centred on integrity, trust and expertise, and the guidance we provide has been designed to be an investment, not an expense, allowing us to work with generations of the same family. For more information, please contact us today by calling on 0131 225 1200 or complete our contact form.. It helps to know what you plan to place in the Trust: e.g. a sum of money, or the deeds of a property. You can set up the Trust well before it is needed, with just a small amount of money in it. You specify who is intended to benefit from the Trust (the "beneficiaries"). You can name any number of beneficiaries. You also choose the trustees.