I probably know the answer already but....

Ara_3

My parents are thinking of putting a property in France in the name of two of my sister, one of my brothers and myself and leaving my parents with a lifetime interest in the property to stop my other brother getting anything (he doesn't deserve anything). Do i need them to exclude me from this? They done live in England and are hoping to move to France shortly.

Charco_2

Yes, if you are in an IVA or are considering a similar debt solution then you should exclude yourself from this. You don't want to unnecessarily have an asset you would have to realise for the benefit of your IVA. I wouldn't encourage dishonesty, if you have an asset then you should deal with it towards your outstanding debts but it would be silly to actively acquire an asset only to have to hand any value in it over to your IP and your Banks.

Is there an urgency to do this? Would a Will serve the same purpose?

Perhaps you could suggest that it is put into the name of a child (if you have any over 18 - so as to avoid having to orgaise a Trust), or better yet put your share in your trusted brothers name and he'll transfer it on to you when you are clear of the IVA.

It is certainly most prudent of your parents to be planning ahead like this, tax efficiency is important, but it would certainly also pay to perhaps speak to a specialist on the matter.

Ara_3

I have suggested a trust, maybe they'll go for that otherwise i will have to ask one of my siblings to keep my share safe. A Will wont do as it's in france and when they become resident all children receive an equal share! Thats if there is anything left if my evil brother has his way! My parents security is my main concern.

Charco_2

A Trust can have it's own problems, asking a sibling to keep your share safe would be best - so long as they can be trusted ha ha!

Far better that you would lose a claim to the property altogether tho, than you would cost everyone the property by having to introduce your share into the IVA so defintiely avoid that!