If a property is being left in a will to
a trust
A Trust looks after money for a person or a group of people.
, the executor will often sell it and transfer the funds into the trust. But, in some cases, families want the trust to include a property for their loved one to live in.
Usually this happens through:
- Transferring a property into the trust while the person that owns it is still alive
- Gifting a property into a trust through a will
- Gifting money into the trust which we then use to buy a property for your loved one to live in
We work in partnership with Golden Lane Housing, an independent charity that specialises in managing properties for people with a
learning disability
A learning disability is to do with the way someone's brain works. It makes it harder for someone to learn, understand or do things.
. Like us, Golden Lane Housing was originally set up by Mencap.
Things to consider
For us to be able to accept a property into a trust:
- The property must be in good condition, and a safe and manageable environment for your loved one to live in into the future. We ask for a
survey
A survey is when someone asks you to answer some questions.
of the property and review it before agreeing to take it into a trust.
- Your loved one needs to want to live there into the future – and the property must be suitable for their needs.
- The trust must have a cash value of at least £50,000. This is to make sure that we can maintain the property and keep it safe as a home for your loved one.
- We have to own the whole property (it can't be shared ownership).
- Once the property is placed into the trust, the person that gifted it can’t retain a benefit from it. For example, a parent can’t continue to live in a property after it’s been put into a trust for their loved one.
Putting a property into trust
If you're interested in putting a property into trust please
call us on 020 7696 6932 or email info@mencaptrust.org.uk
to explore the options available to your family.
Useful links