Deeds of Gift / Trust
Liddy’s Solicitors Ltd were established over 15 years ago. We specialised in Personal Injury and Medical Negligence before Mohammed Khalil Joined us in 2007 and started leading the conveyancing team. In the past 15 years he has handled thousands of conveyancing transactions.
A deed of gift is a document which transfers some form of property or asset from the current owner (donor) to a new one (donee), free of charge. There are a few reasons why someone may do this. Most commonly an asset is passed down from one family member to another to avoid inheritance tax.
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.
A deed of gift itself is quite a simple document. However, the act of transferring property or assets is quite complicated and the ramifications of doing so can be wide reaching. This is where Liddy’s comes in. Not only will we draw up the document, but we will advise on every aspect of the transfer, ensuring that you get the outcome you desire.
Liddys have offices in both Wakefield and Barnsley. We pride ourselves in having a personal touch with all our clients. By better understand you and your desires we can work better to achieve your desired outcome.
To find out more about our services with Deeds of Gifts just give either of our Wakefield office a call on 01924 366 896, our Barnsley office on 01226 731 314 or contact us here.