House in trust

[hoping2016]

Please could someone help me with a legal matter?

My parents put their house in trust a few years ago by being told by an will writer they would avoid care home fees. We now know this is not necessarily the case.

Could someone explain how we get the house of trust and back in their name pls?

Also they've only just realised their house is insured for buildings and contents in their name. Should this really be in the trusts name? If so does this impact the price etc of insurance?

Luckily they've not had to claim so far.

They are very stressed our and as a result so am I. They feel deceived by the will writers.

If anyone could help us understand next steps we'd be most grateful

I think this is an area where posting suggestions based on a question that could get very complex very quickly is dangerous in the extreme.

What type of trust, who benefits and who are the trustees?

Just a few questions each of which is unlikely to have a conclusive answer.

My suggestion to you/your parents is to get all the releavnt documents together and get proper legal advice. By that I mean (A) from somebody appropriately skilled, probably specialised (eg STEP members) And (B) with proper indemnity insurance if you're led up the garden path.

If you're in the UK, and I assume the reference to Care Home Fees means you are, then which of the constituent 4 nations you're in will be relavant too.

With a following wind CA(B) or other local advice charities might help or at least sign you to somebody who can cover the basics pro-bono - ie free of charge.

@hoping2016 did you get your issue resolved. My parents have been advised to put their house into a trust and I'm unsure it's the right thing for them. I'm not sure I see a benefit.

Almost certainly it isn’t. What have they been told the benefits are?

We are still trying to sort it out tbh. I think we are going to take the house of trust as I can't see any huge benefits in our case. But I'm still trying to understand it all! It's complex! Sorry can't be of much more help. Maybe get advice from a few solicitors and compare between them?

@hoping2016 yes I think that's a good idea. I'm going to see them today about it. I'm concerned that taking a house out of trust will be a long process if we did need to sell it for their future care and from your experience it seems it is.

@hby9628 Its the trust that now owns the house I believe. So who are the trustees? Relatives or someone else? Putting assets into a trust can help with IHT planning but your main house is foolish. You lose control of your asset.