property and inheritance

[elephantfan]

Can I gift my half of the family home to our DC before I die?
DH and I are tenants in common and the house is in trust for inheritance tax purposes.
TIA

Yes, although if you do it to avoid creditors or in anticipation of divorce it could well be undone.

I am not sure what you mean by in trust for IHT purposes. Joint tenants is usually used between couples so it falls outside the estate so may be you meant that rather than tenants in common. If you did mean joint tenants then first you sever the joint tenancy to make it tenants in common and then make the gift to the children. You will need to pay them a market rent in many cases otherwise it remains counted as your asset for inheritance tax. Best to see a solicitor about it all. Also if they don't live with you the children may have to pay capital gains tax if it goes up in value if they don't live there with you - I am not sure what their ages are. Also if they are adult and divorce their spouse can take some of their share which is the downside.

Thanks Xenia.
I will discuss with solicitor.