For many of our clients arranging to gift their property is advantageous to their future planning for a number of reasons:

Financially – there can be inheritance tax advantages for gifting assets such as property to your family during your lifetime, rather than in your will.

Emotionally – there can be immense satisfaction from seeing your family enjoy the property during your lifetime.

Peace of Mind – Knowing that your estate and assets have been protected for future generations to enjoy.

There are consequences to gifting your property that we can discuss with you including:

Tax implications – potential tax implications following the gift and Capital Gains Tax and Income Tax consequences for the recipient of the gift;

Ownership – if you are no longer a legal owner of the property you will have little control over the property in the future; and

Family – should the recipient’s relationship breakdown the asset could be included in any financial arrangement or divorce proceedings.

We can guide you through these complexities to find the right solution for you.

We have over 145 years’ experience advising families and assisting them with their future planning. We have carefully recruited our specialist team for their expertise and understanding meaning that we are well placed to explain the pros and cons of gifting your property.

• The impact of your gift for inheritance tax purposes;
• The consequences of no longer owning your property; and
• The course of action to be taken if you wish to remain living in your property following the gift.

We can help you and your family plan for and protect against:-

• The gift being transferred out of the family upon a relationship breakdown;
• The gift being included in your estate for inheritance tax purposes; and
• The risk of having to leave the property should you wish to remain living in it following the gift