How to put a flat in trust for Dc?

[isthereaway]

I have a Ds (20) & a Dd (17). I want to buy a small flat for them to share in a few years. It would cost around £75k. They're both ASD & I want them to have somewhere safe to live independently later & to practice living in well before I might die (I'm 56, healthy but you never know). Can I buy it but put it 'in trust' until Dd is, say, 25 (so around 8 yrs)? Is this only for £1M houses of rich folk?

I should have said sorry, I am in Scotland. Ideally, I'd have the right to live there, but once they were settled I'd move out to a caravan or something.

I think you could put it in trust but it would be expensive.
Are you thinking of what might happen if you die before the eldest turns 25? Not sure why a trust would be necessary.

Why does it need to be in trust? If you buy it and state in your will that, on your death, the property goes to them both 50:50?
If they are ready to move in before that then they just do that with your blessing.
Why would you be living in a caravan whilst they live in a flat? What’s the long term plan for your retirement/older age?

As above - you’re over-complicating this. Just buy it in your name and leave it to them in your will. Unless your assets are over £500k (assuming single, and you own a home) or £1m (if married) there will be no inheritance tax to pay anyway.

Are you sure they will want to live there as adults? You don’t say how severe their autism is. If it’s mild and they’re capable of working and living independently, there’s a good chance they’ll want to live somewhere else. Or even get married. If they are severely autistic and will need you close for as long as possible then your plan makes more sense.

You need it in trust in case you need care. I am currently selling DM investment flat which was supposed to be for my dd as she needs care which costs her thousands .. I asked her to put it in trust but she wouldn't 🙄

www.scope.org.uk/advice-and-support/leaving-money-to-disabled-person-in-will-trust?gad_source=1&gbraid=0AAAAADrhH8GHFLlBVib8ox-2vOSiyvkAy&gclid=EAIaIQobChMI5NSkxoWWiQMVBJtQBh0HbCDfEAAYAiAAEgJhFfD_BwE

What happens if one of them gets married, then divorced and their ex goes for half the assets?

Or what happens if one of them wants to claim benefits but is disqualified because they own a house?

Thank you all. I don't see them living independently atm. The idea is to buy it now, they can practice living there together (as house share arrangement). If are able to both move away in due course, fine, I'll live there. If not, they both have a roof to share & I'm not far away. In trust so that no one can take advantage of them financially.