We have not set up the trust yet. We are considering this if this is the only way to transfer the ownership of the property from us to her.
I am going to opt outof this for another expert to consider. Please do not reply or it comes backinto my inbox. Another expert will pick it up at some stage. It is now open toall experts.
Thanks Nicola. I am happy to wait a bit longer.
Hello. Sorry I was away for the weekend. In case my husband and I set up the trust and the child is beneficiary than the property income will go on our tax returns and not on her tax return i.e. large proportion of the rental income will go to pay our taxes instead of paying her education. In case we sell/gift the property to her granddad than he can setup the trust for her and the rental income will go on her tax return not ours. Can you please advise if there are any other downsides as we need to choose which way the property goes to the child so she can have a maximum benefit from the property?