In very basic terms, a Protective Property Trust (PPT) in a will holds a share of an asset or all of an asset in trust for a child whilst giving another person, usually the deceased's spouse or partner, permission to live in or use a property whilst they are still alive and only after the death of that spouse or partner does ownership and control of the asset pass on to the child or children.
Example
In a standard family situation (husband, wife & 2 children), the husband and wife would own the family home as Tenants in Common and write their wills with PPT's in.
In normal mirror or joint wills, the husband (for example) would leave his share of the family home in trust for his children but his will would give his wife permission to live there for the rest of her life.
The wife's will would say the same for the husband and only when both husband and wife have died can the children own and control the property.
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