A simple Will is certainly better than none at all, but it does have one major shortcoming.
If a widow or widower is already in a residential care home –
This can mean that all but their last £14,250 is taken to pay for care –
By arranging Property Protection Trust Wills, a couple can ensure that the surviving party never owns the family home in isolation and it is owned in such a way that the Local Authority must disregard its value in their assessment. As a result, although some other assets may still be lost to pay for care homes, at least the family home will ultimately pass to the children and/or grandchildren.
In many cases, Property Protection Trust Wills can also provide the protections described in Bloodline Protection Trust Wills.