My wife and I are thinking of giving our house to our daughter in case one of us has to go into a home at some point. I am concerned that, should our daughter get divorced, her husband may be entitled to half our property and we would be left homeless.
If you simply give your house to your daughter, it would be at risk if she were to divorce, die or become bankrupt. You could transfer the property to your daughter and retain a right to live in it by setting up a Life Interest Trust whereby you would become life tenants. If a life tenant goes into a nursing home, the local authority cannot take the assets in the trust to pay for their care, depending on when the transfer and trust were completed. Discuss this with a solicitor.