I am in process of buying a property as a BTL - this will be a cash purchase solely funded from inheritance I have received from my parents who have both passed in the last 3 years. The house will be purchased in my name only.
I have not used this inheritance for anything other than replacing my personal aging car (say 10K - rest is intact and has not been used for family purpose)
Just wondering that if me and DH were to divorce (we are not planning to honest - or at least I'm not!) were this property would stand in the marital pot (DH parents are still alive so he has not received any corresponding large sum)
Just wondering how I can protect my kids future money mostly (did think about buying it in their names but they are minors and would involve trusts and plus whilst I don't need the money now who knows in the future. Also as it stands we would be well over the inheritance tax threshold so should I reconsider the kids owning it option (even if they can)
Sorry so many questions!