31 January 2007
My client has separated his house into two flats and has given one of them to his two daughters for inheritance tax mitigation reasons. He has been advised to make sure that he retains no benefit in the flat. The older daughter A is just 18 and lives in it, but the younger daughter S is 16 and still lives downstairs with her parents. S's share of the lease is in the name of my client, her father, as bare trustee.
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