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Divorce/separation

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Gift in trust to DCs

3 replies

Krustyandthekids · 14/04/2021 23:30

Hi all
We are selling the family home and I'm buying somewhere new with our two DCs. STBXH is putting some money in trust to the DCs to enable me to use this towards a new home as he has moved in with new GF. Where would I get paperwork for this drawn up (with clauses for co-habitation / coming of age etc of the DCs)? Solicitor? Mediation? We have agreed amounts etc. but need something in writing for the mortgage...

Any further advice really welcome!

OP posts:
PandemicPalava · 14/04/2021 23:38

Mil used a wealth management company when she did it for dh

FinallyHere · 15/04/2021 00:07

Our solicitor arranged both the trust, the transfers in and an interest free loan from trust to beneficiary. There are lots of constraints around what a trust can invest in. No personal allowances. The interest free loan gets round all that. Paid back from estate no avoid additional IHT too.

Krustyandthekids · 15/04/2021 19:59

Thank you! Perhaps I have terminology wrong - it's not a trust as such - more like an agreement of trust. The money is being used by me for the house... but remains the children's money if anything should happen... 🤷🏼‍♀️

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