Gifting property to children

has anyone done this? How old can they be - 16 or 18? It is simple?

I'd like to give a unit to each child then get them to pay me rent (I've seen many families do this.)

My family used trusts but there were a lot of kids in my family and I was never involved. Some of my siblings received payments from the trust.

I'd prefer not to use trusts unless this is a clear winner. I like to keep things simple

 

Yes it is possible and it is easy. but there are many consequences.
You can gift to minor children.

In most cases it would probably be better not to gift until your death.

If you gave them a unit why would they pay you rent?

See my tip on helping children.

 

Thank you id prefer kids make own way as they are not needy & I don't want to raise entitled brats.

My best childhood friend rented from her parents in her early 20s. They were tough on their kids like my parents, to raise responsible caring kids. I would never gift a car or property to my kids with their knowledge. But I want to give them a lot. Probably generous deposits.

 

Rent paid in cash as thanks to parents, get the pension (disposal of assets > 5 years before claiming pension).

 

You just mentioned you were going to gift them the property. If they own it they don't have to pay rent. If you want them to pay rent them it may be better if you lease the property to them.