How can I protect the assets I am lending my daughter/son?
To ensure you have the best protection it is sensible to obtain legal advice prior to making the gift or loan.
Methods of protecting you assets could include:
- Loan Agreement
- Legal charge
- Declaration of Trust
- Holding property as tenants in common in unequal shares
- Asking the parties to enter a pre or post nuptial agreement
- Establishing a Trust
- Shareholders agreement
- Partnership agreement
When considering the options above you will need advice concerning tax implications. The family team at Howes Percival will always consult with our tax specialists to ensure comprehensive advice is provided. Advice from the commercial team or property team may also be necessary. This advice can be sought in one place, our office, at Howes Percival.