Accountant: DON'T Gift Your House to Your Kids

Special Xero offer: Get 90% off for 6 months using this link: https://xero5440.partnerlinks.io/kira... Terms & Conditions apply.* Let's talk about why you should not gift your house to your kids too soon. We will cover the inheritance tax issues (including the gift with reservation of benefit rules), deprivation of assets and the loss of control. I will share three alternatives that you could consider instead i.e. doing nothing, gifting a partial share and putting your house into a trust. TIMELINE: 00:00 - Intro 00:58 - Inheritance tax 02:37 - Loss of security 03:30 - Care home assessment 05:28 - Your will 07:14 - Gift a share 08:20 - Lifetime trust WHO AM I: I'm Kiran, a qualified Accountant and experienced tax professional living in the UK. I make videos about finance, tax and investing. MY FILMING GEAR: Camera - https://amzn.to/3FxPlad Microphone - https://amzn.to/3RP1GOu Tripod - https://amzn.to/3PVWRjR DISCLAIMER: This content, and the ideas presented in it, are for education and entertainment purposes only. Kiran does not provide tax or investment advice. The information presented does not consider the financial circumstances of any investor, and therefore may not be suitable for all investors. Although Kiran is an Accountant, no Accountant-Client relationship is established with the viewer in any way. As an Amazon Associate, I earn from qualifying purchases. The product links in the description are affiliate links. This means if you choose to buy something through one of these links, I may receive a commission on the sale, but it makes no difference to you as a buyer.