Gifting your home can seem like an attractive solution, perhaps to help fund long-term care costs or to protect your property for future generations.
But it isn’t as straightforward as it sounds. It is important to take professional legal advice to protect your rights and to make sure you understand all of the implications. There are a number of other solutions that can help you protect your assets, such as setting up a trust.
A well drafted will could also help to protect a share in your home for your children and you should always take professional advice about the tax consequences of making a gift of your home.