Putting home into Living Trust

Take my word. It is a nightmare. I tried this a couple of years ago with a firm named HENCEFORTH. I paid a substantial deposit for their services £4,000.00 but once I'd done that the correspondence slowed down actually came to a complete halt. After a few weeks I contacted my local MP, who asked for all my paperwork which I duly copied and gave for his perusal. In next to no time, I was contacted by the office of the MP to advise me that he was writing to HENCEFORTH asking for the return of the deposit as they had deceived me regarding putting my home in trust. HENCEEFORTH returned the deposit. Do you believe they would have returned the deposit if they were not deceiving me - never. Be warned.

A close friend of mine did this some years ago and had legal advice from the outset. All was well until her husband died. Their house was far too big for her to maintain on her own so she decided to downsize to something much smaller. The Living Trust had to be transferred to the new property and the whole thing became a legal and tax nightmare for both her and her children. She decided to cancel it. But that too incurred considerable legal fees, in addition to the usual conveyancing fees. The only people who benefited were the solicitors.

And why should the rest of us pay your care bills if it does come to that? Because that is what is being proposed, and it hardly seems fair.

And the problem with even the best legal advice is one can never be absolutely sure how a court would judge if it came to that,

I remember a similar thread too, not that long ago. The advice given then was the same, don't do it.

It would be helpful if OP says what they hope to achieve by doing this.

If it's care fee avoidance device, it won't work.

Yes, Homestead62 has said it all there. You really do need to get good legal advice before considering this, as there are many pitfalls.

Be very careful. It could be seen as deprivation of assets( well after seven years as well). Also results in complications if you ever want to sell/ move house and apparently there is tax to pay when you do this. I'm only saying this as we looked at doing this and decided against it. Definitely won't be handing my home to anyone. Yes, it's a pain having to possibly pay for care, but you may never need it. Out of my parents and in- laws, only one was ever in a care home. It's quite a complicated issue and we felt you could get into quite a legal mess, but that's us. Only advice I give is seek advice from a good solicitor and also talk to an accountant about tax.

No. But I think there was a similar thread a few weeks ago...