Many parents are becoming increasingly concerned about the risk of their child, to whom they have gifted money for a house purchase deposit, separating in cases where the child is not married or divorcing in cases where they do marry, and not being able to retain the whole benefit of the gift.

Two alternative methods of protecting such gifts are either to (1) enter into a pre-nuptial agreement or a living together agreement signed by the couple who wish to cohabit or marry prior to the property being purchased, or (2) the recipient of the gift and his or her partner entering into a formal declaration of trust. In each case the gift can be protected so that in the event of a separation or divorce, the child who received the deposit from their parents will know with certainty (as best they can unless the court set aside the agreement or declaration) that the money will come back to them and not be shared by the partner. The risk of the Court setting aside the agreement or declaration is very small particularly if both parties have received independent legal advice.

At Jordan Williams Law we offer a free consultation to discuss these and all other issues affecting couples who live together, marry, have children and share their financial resources.

For free confidential advice about divorce or relationship issues please contact David on 07793 055104 or david@jwlaw.co.uk or Sarah on 0788 7721458 or sarah@jwlaw.co.uk