This is not something we quickly or even normally recommend. While this may save you some tax when you die, you are truly transferring an interest in property to someone else. You lose control of the property to some extent and you cannot force the child to transfer it back to you. You may trigger capital gains tax or property transfer tax. You expose your interest in the property to the claim of your child’s spouse, should that child separate from their spouse. There are many reasons not to do this, but in some instances it may be the better decision for you. We’re happy to discuss your options before you proceed.
