A house or a share of a property can be placed into a trust, but the consequences must be considered carefully.
A property trust included in a will may allow a surviving spouse or partner to continue living in the home while preserving the deceased person’s share for children or other beneficiaries. For this arrangement to work, jointly owned property may need to be held as tenants in common rather than as joint tenants.
It is also possible to transfer property into a trust during your lifetime. However, doing so can affect ownership, control, taxation, mortgage arrangements and your ability to sell or use the property in the future.
Putting a house into a trust does not automatically remove it from your estate or guarantee protection from Inheritance Tax or care costs. The purpose of the trust and your personal circumstances should therefore be assessed before any property is transferred.