Gfting a property and losing the benefit to a child under 18

Trusts Discussion
1

Dear All

My client wants to gift a property to his two daughters and one of them is under 18. He is aware that he has to give up the benefit for the 7 year rule to apply.

My question is when would the 7 year period start if one of the persons receiving the property is under 18 would it be as soon as the gift with benefit is given up of when the other person recieveing the gift would turn 18

2

Assuming no retained benefit by the donor, the 7 year rule applies from the date of the gift (not from when one of the donees attains age 18) irrespective of the age of either donee.

A minor cannot however take legal title to a property (although can take a beneficial interest therein)

Malcolm Finney