Can you put your house in trust for your children?

Gobsh

Can you put your house in trust for your children?

Andy_L

yes

however its unlikely to achieve your likely objectives (avoid inheritance tax and/or care home fees)

Marcon

Yes, but the downsides are considerable. Get yourself some proper legal advice before doing anything which could prove (a) totally ineffective, depending on what you're trying to achieve and (b) put your children in a worse position re IHT (loss of residence nil rate band).

itsthelittlethings

What will happen if your children get divorced and their ex partner claims half the house or your children need to claim means tested benefits?

Albermarle

itsthelittlethings said:

What will happen if your children get divorced and their ex partner claims half the house or your children need to claim means tested benefits?

Plus many other potential complications.

Keep_pedalling

You can but it would be a stupid thing to do. 

hayabusaman0

Is that the same as Asset Protection plus trust?

Keep_pedalling

GERAI_LTD said:

Gobsh said:

Can you put your house in trust for your children?

Yes, you can, but for TRUST formation, it is essential to have particular value because the maintenance of TRUST has a high ongoing cost.

You can consider another arrangement, such as foreign company ownership, etc.

That is an even more insane idea. 

Albermarle

GERAI_LTD said:

Gobsh said:

Can you put your house in trust for your children?

Yes, you can, but for TRUST formation, it is essential to have particular value because the maintenance of TRUST has a high ongoing cost.

You can consider another arrangement, such as foreign company ownership, etc.

That is verging on being one of the most bizarre bits of 'advice' I have ever seen on this forum. 

swingaloo

Albermarle said:

GERAI_LTD said:

Gobsh said:

Can you put your house in trust for your children?

Yes, you can, but for TRUST formation, it is essential to have particular value because the maintenance of TRUST has a high ongoing cost.

You can consider another arrangement, such as foreign company ownership, etc.

That is verging on being one of the most bizarre bits of 'advice' I have ever seen on this forum. 

Its from a new member, only joined this afternoon.

Grumpy_chap

Albermarle said:

GERAI_LTD said:

Gobsh said:

Can you put your house in trust for your children?

Yes, you can, but for TRUST formation, it is essential to have particular value because the maintenance of TRUST has a high ongoing cost.

You can consider another arrangement, such as foreign company ownership, etc.

That is verging on being one of the most bizarre bits of 'advice' I have ever seen on this forum. 

Seems to be a spam / advertising post for "Innovative & Virtual International Business Tax Hub".
Reported.