Main Residence

Protect your main residence

There are a number of strategies that can be deployed to protect the main residence where you wish to pass all or part of your Main Residence to be controlled and managed by your children or Trustees whilst you are still alive. This may require a Conveyance in transferring the asset to the Trustees or a declaration of trust where you retain ownership on land registry.

The fundamentals are that if you continue to live in the property as you wish, you need to consider the gift with reservation rules. There are exceptions in legislation that may allow you to continue living in the property without paying rent.

If you wish to see if you qualify click here https://www.sap-legal.co.uk/95/mainresidence/

One of our specialist advisors can talk to you and see what is available.