Yes, management fees are a big thing in the choice of an AV.
Ah, thank you, so that is the main difference between it and an LEP, where there are no charges and all interest is retained. But with an AV you choose the ultimate recipient whereas with LEP, it is the legal successors who benefit.
For me then, if I want to deprive those I disapprove of, it is simply a question of deciding what I am not going to need before death and making a gift now rather than an effective loan, which I would have to continue to pay for. I can see how this is a suicide’s charter, create an AV with all your money and then as soon as it is confirmed, cut your throat. (Other methods of self murder are, of course, available 
).
I think, on balance, the gift idea is best. I suppose I could gift the house on the condition that I could live here for the rest of my life? 
And even another extension of that has occurred to me. Gift the house, then get the beneficiary to sell it in order to retain its full value and then buy elsewhere of my choice to live under the same agreement, ie 'till death.
If the gift is too large, the people you want to disinherit can still kick up a fuss and have it cancelled when you go. Same with a too large AV. It’s a tightrope walk, because a certain amount is allowed, but if it’s too much the whole lot gets cancelled. Unfortunately the percentage is not exactly determined by law.
Cash is the solution
yep… give me the Cash and I’ll look after it 
(seriously, we had neighbours who “sold-up” and went into rented accom so that they had cash and could do with it whatever they pleased. and no, they didn’t give me any… )
Yes, I think that is the answer.
A solicitor advised my brother, who was looking after my aged parent’s money, in order to cut inheritance tax liability, to give smaller but regular generous gifts for birthdays, Christmas, anniversaries or any other excuse he could think of.
My understanding is that, in the UK at least, that works as long as the donor survives at least seven years after the date of the gift, otherwise IHT still kicks in.
I believe you can give away up to £3000 a year (in total, not per person) tax free though.
ETA: or unlimited gifts of up to £250 per person.
ETA 2: there’s also a (UK) thing where you can give regular gifts but they have to be out of “normal income” i.e. not from capital/savings. Bit more complicated IIRC.
In France each parent can give €100,000 per child every 15 years. And approx €30k to grandchildren and €5k to great grandchildren.
We have 4 children and currently 7 grandchildren so a good start for offloading tax free dosh!
Is it yours to gift, David? Or do you just own a portion, with the rest now owned by Fran’s kids?
I think I read something ages ago about you having a life interest in it (usufruit). But who actually owns it now?
Not sure about that, perhaps you are right. All I know is I can sell it at will but must share the proceeds with Fran’s kids. There may be a law about gifting it though. Also, probably a law about selling it for €1. 
But what if I give most of my money away with a guarantee that I will receive a small pension from my son for life?
Would have to make sure that it wasn’t too much and that it catapulted me into the tax paying bracket though.
I think a visit to the nearest notaire (not the dilatory one) is in order to establish principles with a couple of non-committal questions. Do they give advice for a small fee without knowing the full circs?
They do not charge for advice, only for doing whatever official deeds that might then transpire.
I just thought I’d give them a little leeway in view of the fact that I was charged €30 for one signature on a document that didn’t concern them/him. 
Oh and a rubber stamp on it too.
I think going to see a (non-dilatory) notaire is a very good idea. With a short list of carefully drafted questions, prepared in advance.
Maybe take someone with you? Four ears are better than two.
Good advice, thanks. 
A large amount at once is probably not possible. Hence my suggestion about small regular generous gifts.
What’s that?
Right ‘nuff! 
A notaire who doesn’t b%%ger about.
1 Like
It means the ones I’ve got are dilatory, and the ones I seek, should not be.