Are you thinking of gifting assets? Perhaps you are thinking about gifting part or whole of a property to your children, for example. This is an area that is fraught with complications and risks. There are many things you need to be aware of before you proceed with any transaction.
These include tax implications for both you and the donee, being aware of other ways to achieve a similar outcome, the impact on your personal position and the way in which a local authority will view your gift, if you are making it with care home costs in mind. You should seek professional advice before taking any steps. Fitzhugh Gates have specialists available to provide all the legal advice you could need.
Please do contact our team to speak with one of our professionals.
