How To Gift Your Home To Your Children
MP Estate Planning UK MP Estate Planning UK
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 Published On Feb 12, 2023

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How to gift your home to your children in the UK - How to gift your home to your children in the UK 2023.

My name is Mike Pugh, and I am a professional estate planner with over 2000 clients and over £500 million in estate values managed.

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Gifting a home as a free and clear gift or an absolute gift is not a good idea because it means losing control of the property and it could potentially be taken away in a lawsuit or divorce.

First you should speak to an estate planning professional to understand the different strategies that can be employed and to figure out what the best course of action is.

(If you need BOOK A FREE CALL here: https://www.mpestateplanning.uk/booka...)

Some of the questions that the estate planner should ask include the age of the person, their marital status, whether they have children, and the value of their estate compared to their cash assets.

The next step should be to put the home in a trust, naming adult children as trustees and potentially as beneficiaries, and naming oneself as a beneficiary so that one can continue to live in the home. The specific details of control, such as whether one should be a trustee or not, would depend on the situation.

Putting the home in a trust protects it from various modern threats, such as divorce and remarriage. The trust would ensure that the home would not be part of a divorce settlement or a financial settlement in the event of a divorce. Additionally, if one's children were to remarry, the trust would protect the inheritance from being lost.

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