We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Can you put your house in trust for your children?

Gobsh
Gobsh Posts: 245 Forumite
Fourth Anniversary 100 Posts Photogenic
in Pensions, annuities & retirement planning
Can you put your house in trust for your children?
«1

Comments

  • Andy_L
    Andy_L Posts: 13,068 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    yes

    however its unlikely to achieve your likely objectives (avoid inheritance tax and/or care home fees)
  • Marcon
    Marcon Posts: 14,931 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Combo Breaker
    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).
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
  • itsthelittlethings
    itsthelittlethings Posts: 1,335 Forumite
    1,000 Posts Second Anniversary Name Dropper
    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?
    35 NS&I
    5 credit union

    Credit card 2300
    Overdraft 0
  • Albermarle
    Albermarle Posts: 28,859 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    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
    Keep_pedalling Posts: 21,448 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    You can but it would be a stupid thing to do. 
  • hayabusaman0
    hayabusaman0 Posts: 19 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    Is that the same as Asset Protection plus trust?
  • Keep_pedalling
    Keep_pedalling Posts: 21,448 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    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
    Albermarle Posts: 28,859 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    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
    swingaloo Posts: 3,599 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    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
    Grumpy_chap Posts: 18,693 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    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.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245K Work, Benefits & Business
  • 600.6K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture