I have a 90 years old client, in a very good health, who wishes to gift half of his property to his beloved son.
They both live in the same property.
To avoid being trapped in the GWRB, the son will contribute 50% towards all running expenses.
The client if fully aware of the risk, that this might be a failed PET, if not survive full seven years.
Any other relevant aspects which needed to be taken into account?
Anything in HMRC manuals in respect of any further guidance?
Any advice would be greatly appreciated! Thanks.
Berlad Graham LLP