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Stuart J
Stuart J, Property Solicitor
Category: Property Law
Satisfied Customers: 25164
Experience:  Senior Partner at Berkson Wallace
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I own a flat which my daughter has been living in rent free,

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I own a flat which my daughter has been living in rent free, I will be 79 in January and I am thinking that I should make the property over to her to avoid inheritance tax . Am I t
JA: Because laws vary from place to place, can you tell me where the property is located?
Customer: I wanted to add is it correct that I would have to live a further 7 years
JA: Has anything been filed or reported?
Customer: no
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: The only other question is that I have 2 sons how would I proportion their inheritance in my will

Hello. Thank you for the question. It is my pleasure to assist your with this today.

Please bear with me and I will be online and off-line from time to time and therefore, may be delayed getting back to you. You will receive an email when I reply.

Will you leave your sons a percentage of this property?

and is everything to be split 3 ways?

what if your daughter doesnt wish to leave?

Customer: replied 24 days ago.
No, they will inherit their share from whichever property I will leave at this time

Provided you lift the 7 years, then your daughter takes the property free of inheritance tax.  What you have been told is correct.  There would be full liability for the first two years and honorary sliding reducing scale for the final five years.

This is on the strict understanding that you don’t have any interest in the property, and that you don’t live in it.  Otherwise it is a gift with Reservation and it wouldn’t help at all.

In your will, you would obviously exclude any gift which your daughter had already had and you would have a Letter of Wishes with the will which explained that she had had the property is what is in effect an advance of her inheritance.

That is essential to stop her trying to claim a chunk of your estate after you pass away, saying that she was entitled to 1/3 of everything else even though she already had the house.

If you still want to speak on the telephone, I would be happy to call.  Please let me know.

Thank you for letting me assist you with your legal question.  I am glad that I was able to help.

I am not certain whether that answers the question for you or not, but I am happy to answer any specific points arising from this.

It will be my pleasure to help you again either further with this or any future questions you have

Kind regards

Customer: replied 24 days ago.
Thank you for the information

It was my pleasure to assist you. Please come back if anything else crops up and needs clarification.
Thank you for trusting Just Answer, and of course me,  with your legal problem.

Stuart J and other Property Law Specialists are ready to help you
Customer: replied 24 days ago.
I declined to make the call to the solicitor, there was no option to cancel as I did not proceed please refund the £44 to my account Thank you
Customer: replied 24 days ago.
I am seeing a solicitor to make a new will and will incorporate my questions at the same time, therefore I did not call the Solicitor but had no way to cancel other than not proceeding. I cannot afford to pay the £44 you have taken from my account will you please be so good as to refund this to my account. Thank you
Customer: replied 24 days ago.
I am hoping for a response to my message as soon as possible please Karin Wigmore

I will refer this to customer services for you.  It will closse the thread.

Customer: replied 12 days ago.
I am still awaiting a response to my message with regard to a refund of £44 because I did not have a phone call with a solicitor I would appreciate not being ignored over this matter Karin wigmore