Date: Mon, 15 Sep 2003 12:00:49 +0000 (UTC) From: "eric" <notmenopsamam.com> Subject: Re: giving money to son... complications
Sorry ... sent to wrong newsgroup... "eric" <notmenopsamam.com> wrote in message news:bk47nu$p1v$1nopsamn.btinternet.com... > Slightly complicated this ... so I guess I'll need a solicitor ... but just > wanted to research the options beforehand > > I want to make a substantial gift to my sons / grandchildren > a) son 1 is happily married, in good health and has 2 children ... I could > make a cheque out to him for £30k + £10k for each of the grandchildren.. no > worries, no tax implications on the gift? > b) son 2 is divorced ... has two children by his first marriage (living with > the mother)... he is now living with another women with 2 of her children... > he is very ill (might be terminal, has just been granted a sick pension)... > and is being persuaded by his partner to get married... > > Now for son2 I'd like to > a) give £10k to each of my grandchildren by son2... but don't want their > mother to be able to touch it...at least until they are old enough to resist > her? what device can I use for this ... some sort of trust that pays out > when they get to say 25 years old? > b) give £30k to son2 ... but is there anyway to make sure it goes to my > children should he die rather than his wife (to be) and her children? Also > son2 and his partner have no money sense at all... is there any way to pay > the £30k in installements to him rather than a lump sum... without me > keeping hold of the money (I want to reduce my assets). > > thanks for your thoughts... Eric > >
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