Areas of Law / Wills and Probate

Is it possible for me to put my house into my two sons’ names so that it belongs to them even though I continue to live in it until I die?

Many older people ask this question because they want to be certain their children will inherit their property but usually the answer is that it’’s better simply to leave the property to their children in their will. If the house is transferred during the parent’s lifetime the children are likely to have to pay capital gains tax on this house (i.e. your home) when they come to sell it unless they actually live there. There is also the risk that the parent will lose the roof over their head if either of the children get divorced or go bankrupt. Discuss the problem with your solicitor.

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