Legalities and Tax Implications?

[AJ Mussell]

Beverley, my advice would be to avoid an outright gift of the money and instead lend it to your parents interest free and secured by way of a simple charge over their house. This keeps the value with you and avoids any potential complications on their passing if there were any other claims on their estate and when you inherit you can discharge the loan. A simple short form loan agreement and charge is all that you would need by way of documentation and a local solicitor could deal with this for you and register the charge.

[Author]

Posts