Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Elderly parents

Living Trusts - Any easy to navigate sites for more info?

2 replies

LittleMy77 · 03/05/2024 11:18

Its fallen to me as the default ‘organised one’ 😬 to try and figure out background info on trusts and what they entail, for a meeting dad and I have with the solicitors next week

Mum died last year and they have a trust in place for the house. Dad and the solicitors are now the trustees and we have a meeting next week to discuss options.

Mum was the financial brains of the operations, so dad signed up but has no info about why they did it - ie what they wanted to happen with it etc

I have a pretty good idea (ring fencing the house as an asset) but want more info for our meeting next week on what his options are and implications of this - ie do we dissolve the trust, keep it as is, keep a trust but move trustees etc as the solicitor hasn’t been great

I’ve been on you.gov and am pretty financial literate, but am drowning in info atm. Any suggested sites to get plainly laid out info?

OP posts:
LittleMy77 · 04/05/2024 12:18

coffeemonster28 · 03/05/2024 12:22

I found this one useful https://ukcareguide.co.uk/life-interest-trust/
Also, you probably know that, but ringfencing the asset to avoid care home fees may not work as it could be considered deliberate deprivation of assets.

Thanks! Yeah, I'd read about the deprivation of assets piece this week which got me thinking I need much more info than I currently have. I think we'll just squeak by on the timing of when mum and dad set it up, one more question to add for the solicitors

OP posts:
New posts on this thread. Refresh page