The main risks are as follows: Once the gift has been completed, you will no longer own your home. The risk here is that you may regret making the gift if you need to access cash in the future. Gifts are not reversible. Unlike a will, which you can change at any time, the deed of gift is immediate and binding. If you intend to live in the property, you may lose your home if your child, who is now the owner, is declared bankrupt or if they want you to leave because they wish to sell the property. If there is evidence that you have gifted your home to your children specifically to avoid care home fees, then the property’s value can still be included in the local authority’s needs assessment. Speak to a solicitor before proceeding if this is a concern.