Hi my 78 year old mother wants to set up a family trust , has any one had any experience of these ?
Family trusts
- Thread starter D R Oldfield
- Start date
Unfortunately no but you can get some info here https://www.google.co.uk/amp/s/www.moneyadviceservice.org.uk/en/articles/setting-up-a-trust/amp
You need to know why you want a family trust. They provide protection for various purposes. You need local legal advice on what protections they provide and the risks they create. This is specific to the country you are in.
Family trusts have been very big here in New Zealand. Unfortunately, many have been challenged in court and the strength of their protection has reduces significantly.
Family trusts have been very big here in New Zealand. Unfortunately, many have been challenged in court and the strength of their protection has reduces significantly.
Hi from what mam was saying she wanted to find a way to project her home incase she went into care
If she was to set up a trust to do what she is proposing and was to go into care shortly after the council could contest the trust as they could argue it was only set up to avoid care costs , this was raised in the Which magazine awhile ago so tread carefully
to be honest she doesnt ail a thing and is as fit as a a 78 year old can be she is just paranoid that since my dad died a couple of year ago she would loose everything they have worked for if she had to go into a home