Deeds of Gift / Trust

A deed of gift is a crucial document for transferring assets, such as gifting property to children, from the current owner (donor) to a new one (donee) without any monetary exchange. Many choose this process to navigate the complexities of inheritance tax or capital gains tax for gifted property, especially when gifting a property within the family.

However, it is not always as simple as that. For example, the asset will only be exempt from inheritance tax if the donor lives longer than 7 years after the transfer is made. If they pass away within 7 years, then inheritance tax may have to be paid.

While the deed of gift of property is a straightforward document, the overall transfer process can be intricate, with significant implications. This is where Liddy’s expertise becomes invaluable. We prepare the deed of gift and provide comprehensive advice on every aspect of the property or asset transfer, ensuring you achieve your intended results. With offices in both Wakefield and Barnsley, we pride ourselves on offering a personal touch to all our clients. By thoroughly understanding your needs and objectives, we are better equipped to facilitate the process to your satisfaction.

To learn more about how we can assist with gifting property to children through a deed of gift, contact our Wakefield office at 01924 366 896, our Barnsley office at 01226 731 314, or reach out to us here.