The plan is for us to retain a lifetime interest in the home once we transfer ownership
Be aware of the tax implications of giving your home to your children. Stock image: Getty
Q My husband (71) and I (62) want to sign over our family home to our three adult children so we can avoid paying huge bills to the Fair Deal Scheme if we ever need long-term care in the future. The plan is for us to retain a lifetime interest in the home once we transfer ownership. What are the tax implications for us and our children?
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