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Scottish Trust Deed Forum
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Topic starter
13/10/2013 8:57 am
I'm looking for some advice please as I have an elderly relative who has been considering adding some family members to the title of her property in order to bring the value of her estate below the Inheritance Tax threshold in the event of her death. I could be one of the beneficiaries but I as I currently have a Trust Deed would my creditors be able to make a claim on her estate if she passes away before I am discharged (I have 11 months left to run on my TD)? I obviously don't want to sign anything without being fully aware of the implications for both myself and the other potential beneficiaries.
13/10/2013 9:14 am
Welcome to the forum RMFC.
It actually goes beyond that. If you're added to the title you'll have gained an asset whether or not your elderly relative passes away before your discharge.
That asset would need to be dealt with for the benefit of your creditors placing you, and possibly your elderly relative, in a position you wouldn't want to be in.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
13/10/2013 11:16 am
Thanks for the reply, I actually thought that might be the case so I really appreciate you clarifying that for me
13/10/2013 12:12 pm
My friend is in a similar situation regarding transfer of title deeds or a name being placed onto title deeds. If I were you - don't sign a thing until your discharged. (this sounds grim) but hopefully 11 months will pass without any incident and you get a speedy discharge; then you can do as you please.
14/10/2013 8:56 am
I think it's going to be important to ensure that the relative doesn't take action in this respect prior to discharge from the trust deed, not just to avoid signing anything.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
