Family money

[Guest]

Is it possible to gift my son his likely inheritance money and then he loan it back to me for my lifetime under a legally drafted agreement ?
Seeking to avoid this sum being included if declared during divorce settlement?

[atticus]

Sham avoidance measures tend to be seen for what they are.

[Sam101]

You may find many problems in trying this sort of thing, as many people have tried doing this. First of all, is your son a minor or an adult (18)? Either way you need to consider if something happens to your son in the midst of the process. Should he die, your debt would be owned by his estate. Your debt in borrowing from his also may have snags that you would wish to avoid.If he has a partner of wife, then other claims may be made on the loan to you. It is a minefield of snags, so please do not risk it.

Other ways may be possible, such as Family Trusts, if you have large amounts of surplus capital, but gifts may involve taxes and costs for setting up Trusts through suitable solicitors.

[Guest]

Thanks very much for your advice.

[dslippy]

Atticus is correct. This would not only be seen through, but could double (or worse) your costs, and generate a very unsympathetic judge.