Protective Property Trust Will Cost in the UK

A Protective Property Trust Will is a legal arrangement designed to protect a share of your home from being sold to cover care home fees or inheritance tax liabilities. It allows you to leave your share of a property to beneficiaries, typically your children, while ensuring that your spouse or partner can live in the house for the rest of their life. In the UK, this type of Will is becoming increasingly popular as people look for ways to protect their assets.

Solicitor Fees

The primary cost of creating a Protective Property Trust Will Cost is solicitor fees. In the UK, the price can vary depending on the complexity of your estate and the solicitor you choose. Typically, the cost for a single Protective Property Trust Will ranges from £400 to £600. If you and your partner are setting up mirror Wills (two linked Wills that are essentially identical), the combined cost may be around £600 to £1,000.

Additional Costs

In some cases, there may be additional costs involved. For example, if your estate is complex or includes multiple properties, you may need to pay for additional legal advice or services such as tax planning or the creation of a lasting power of attorney. This can add a few hundred pounds to the overall cost.

Ongoing Management Fees

Once the Protective Property Trust Will is in place, there are no ongoing management fees unless you wish to update the Will. Some firms may offer lifetime updates for an additional charge, but these are optional.

While setting up a Protective Property Trust Will Cost involves an upfront cost, it offers significant long-term protection for your home and estate. Consulting with a solicitor ensures the Will is tailored to your specific needs.