4 THINGS TO BEAR IN MIND

Elaine Roche, a Wills, Trusts and Estate solicitor at JMW (www.jmw.co.uk) shares her top tips for families sharing... Before you do anything, have a full, frank conversation about what you want to get out of living together. Problems will arise if Mum thinks Gran’s moving in to help with childcare, whereas Gran wants her freedom.

Decide who pays for what. You could share the mortgage half and half, or one of you could pay all the bills while the other pays the rent or mortgate. Be savvy about inheritance. Be aware if you give property to a child and then continue to live there without paying rent, you will be subject to inheritance tax. Talk to the wider family. Your other children may worry their sibling is getting more of your estate. One option is to say to the child you’re living with, ‘I’m giving you this money for the house now, but when I die I’d like my other assets split between family’. If your child is moving into your home, you could put the property in their name as a gift and change your Will to reflect this.