27/05/2026
Many people believe that putting their children’s names on the title deeds of their home will protect the property from care fees or inheritance tax (IHT) but unfortunately, it’s not that simple.
If you continue living in the property after transferring ownership, it is classed as a “Gift with Reservation of Benefit.” This means that when you pass away, the property may still be treated as part of your estate for probate and inheritance tax purposes.
The same applies to care fees. Local authorities can treat the property as “notional capital,” meaning they can still include it in financial assessments and could force a sale to help pay for care costs.
Importantly, the so-called “7-year rule” does NOT apply in these situations.
Before making any decisions about your home and estate planning, it’s important to get the right advice.
Contact Yorkshire Will Writers today to arrange your FREE appointment and discuss the best options for protecting your estate and your family’s future.
Office appointments at 14 Wesley Street, Castleford, WF10 1AE or home visits available
Hayley Newbould- 07754773179
Lauren Stanyard- 07787163661
[email protected]