Quote:
Originally Posted by Toy Soldier
The obvious workaround, if you have the funds, is to actually SELL your property to a child as soon as they are responsible adults... but give them the money to buy it (so effectively buying it from yourself, but in their name) so that it's not just signed over but actually sold.
The other option, if you're not sentimentally attached to the property, is to actually sell it and use the funds to buy non-traceable assets like bearer bonds / gold / rare coins / art / other collectibles or I guess, these days, bitcoin? And give those to your offspring with no papertrail.
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So you "sell" to your child, if they go on to buy their own home, they will be liable to capital gains tax on your property something they wouldn't be liable for if they inherited it...you would also have to have a contract that you live in it during your lifetime...offspring have been known to screw over their parents as well, the second option is probably more sensible if you want to retain some control over your assets