Gifting My Home To My Children
Published / Last Updated on 28/11/2013
If you wish to gift your house to your children you can do so. However, there are a few things to be aware of.If you give your house to your children and you still benefit from it then it is known as a ‘gift with reservation’. This means that it would still form part of an inheritance tax calculation.Some people think that they will give their home away to avoid the care fees mean test. However, by law you cannot deliberately give your assets away to avoid care fees. This is known as deprivation of assets.
