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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11557
Experience:  30 years as a practising solicitor.
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My wife owns a house in Scotland. Our eldest son, who is disabled,

Resolved Question:

My wife owns a house in Scotland. Our eldest son, who is disabled, lives in the house with his partner and their son who is 16 years old. My wife receives rent direct from the district council on behalf of our son who claims housing benefit due to his condition.

It is our wish to leave the property to our son on our death but this would affect his entitlement to benefits.

Can you suggest a tax efficient way of achieving our wish without disadvantaging my son and his family?

Thank you in anticipation.

Roy Adlard
Submitted: 3 years ago.
Category: Scots Law
Expert:  JGM replied 3 years ago.
Thank you for your question.

You could put the house into a trust with a direction to the trustees that your son can live in the house for the rest of his life. The trust could charge rent and the rent could be used for the benefit of the family by paying for the upkeep of the house.

Happy to discuss further.

I hope this helps. Please leave a positive response so that I am credited for my time.
Customer: replied 3 years ago.

Thank you for the response. I was thinking along those lines.


 


Can you give me an idea of how much it would cost to have a trust set up for a situation like this.


 


Also, have you any advice on where to go and who to appoint as trustees.


 


Thank you


 


Roy Adlard

Expert:  JGM replied 3 years ago.
The trustees can be family members and your solicitor as well.

A trust like this would cost about £1000 to set up but different lawyers charge at different rates so ask for a quote first.

Happy to discuss further.
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