Tax implications from removing my main residence from the Lifetime Property Trust

silvercar

@poseidon1 I will move this to the relevant board.

@mjianoramn you may receive more advice once this is on the deaths, funerals board.

mjianoramn

Thank you @silvercar

@GDB2222 I think at this stage, I will just pay everything that's due to HMRC. I don't think I have the mental and physical strength to even take legal action and as you said also, costs might make it uneconomic. I am full time worker in NHS and a single mum and this is physically and mentally draining me. I think I only have myself to blame to not reading and understanding everything before I put our home into a Trust.

Thank you everyone for your advice. Like I said, I have learned so much from you all and one positive thing that came out of this is that I can warn my friends as they are also planning to put their main home into the trust.

Yorkie1

OP, I've noticed you've mentioned a name (initials MC) several times in the thread. If that's your real name, it might be worth editing those posts to protect your identity 😊