Transfer of site to children - tax and welfare implications for both parties

laila

Registered User
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My father wants to transfer a site of approx 2 acres adjoining the family home to three of his children. The other sibling will get the house. The site until now has only ever been considered as part of the garden. His concern is that separating it as an asset away from the 'family home' and transfering it to us now could cause him to loose the non contributary pension. If he Wills it to us it could lead to a claw back of the non contributory pension he received - that it will somehow be viewed as having not declared an asset.

Could one solution be if he just leaves the family home - including the 'garden' equally to all siblings and that we just honourably make sure that the intended sibling gets to keep the house.

Any advice appreciated.
 
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