Readers’ forum: Most efficient way to make a gift and protect son’s assets

A client husband (H) died leaving the whole of his estate to his widow (W). They owned two properties one being the matrimonial property where W now lives alone and a second property in which the son lives as his only residence and he plans to stay there long term.

W wants to make a gift of H’s half share in the second property and it is suggested that she makes the gift by way of a deed of variation. The intention is to put H’s half share into a discretionary trust and W will be excluded as a beneficiary. The son and his children will be beneficiaries of the trust and the trustees will exercise their discretion to allow him to continue to occupy the property. The trust route is being pursued for asset protection purposes for the son. He was divorced previously and did not do so...