Property Advice and protection from Bristol and West Financial Services Ltd

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Property Advice

Steve & Megan own a property in joint tenancy. They are both 30 years old and have two children, a son & Daughter aged 4 & 6 respectively. Their home is worth approx. £295,000 with a mortgage of £175,000 with 20 years left to run. They are concerned that should either or both die that the mortgage would be paid off and their children’s inheritance, the family home be secure.


  1. Steve & Megan make mirror wills and name guardians for their children and split the title into “tenants in common” with a property trust.
  2. Take out a joint Decreasing Term Assurance for £175,000 over 20 years in trust, naming the children’s guardians as trustees.

The cost of the above would be £530 for the mirror wills + property trust. Decreasing Term assurance would be £8.32pm.



By making mirror wills and naming guardians will ensure that their wishes are met and their children will be looked after by the people they trust. By putting their home into trust this will also make sure that their family home is protected and will make sure that their children will receive 50% share of the value of the property in the event of first death. The survivor would keep a lifetime interest in this 50% of the property. And if both die the guardians would use the home for the benefit of the children.

By taking out a Decreasing term assurance (in trust). Will make sure that should either of both die the mortgage would be paid off and the children’s inheritance secure. By putting the policy in Trust. Thus this would mean that the proceeds would be paid out immediately and would not need to wait on probate.

For information on property protection Trusts

For information on a full family protection trust Contact Us here