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Tax Implications- Child's name added to property title

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Comments

  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    csgohan4 wrote: »
    Future readers, please get financial advice before putting your kids names on deeds. Clearly has implications and losing your FTB's is not something to take likely.


    You will not escape care home fees and IHT if applicable, the HMRC are not stupid. Deprivation of assets may also come into play.

    On IHT if you are thinking of gift with reservation that does not apply.

    If something else you better explain.

    As for deprivation that would depend on full rcumstances, long term resident child would not undermine that as much as another relative.
  • Keep_pedalling
    Keep_pedalling Posts: 21,648 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    E201 wrote: »
    Hi and many thanks for the reply. My other siblings will likely inherit my mum's share.

    You say likely, does your mother have an up to date will in place? Just as importantly do you?
  • chanz4
    chanz4 Posts: 11,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    read his posts from 01-12-2017, 12:26 PM
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
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