Gifts and Inheritance
Posted on 13th November 2018 at 13:26
MG Legal, your property solicitors Lancaster, with offices throughout Lancashire, have found that the average age for a person buying their first property is between 25 and 34. Is it coincidence then, that the most recent government report into Intergenerational transfers have found that this is also the most popular age for people to receive gifts or loan from a family member? Obviously, there are those of us who still need to obtain a mortgage, and your conveyancing solicitors Preston, MG Legal, still deal with many of the high-street lenders on a daily basis.
Presumably as a result of the fact that we are living longer, many Preston solicitors (and probably your nearest solicitors, and other conveyancing solicitors Preston) have found that the average age for people to receive an inheritance is somewhat older than you would imagine, at 55-64. For expert advice on leaving an inheritance, and drafting your Will, your local solicitors for Wills, MG Legal Solicitors, have solicitors in Longridge, solicitors in Lancaster and solicitors in Preston and Garstang, all of whom are available to give advice on the content, and formalities required in your Will, and answer any questions you may have relating to inheritance tax.
If you are looking to transfer your property, by way of gift, for example, then our conveyancing solicitors Preston, and local solicitors for Wills, and indeed, any of the legal team at our Preston Law Firm, Lancaster Law Firm, or solicitors in Longridge, are on hand to advise. Family Law Solicitors at MG Legal have advised that it is imperative that you use a solicitor, and not always your nearest solicitors, but the one with the expertise to help.
Whilst over the past 20 years, there has been a 7% increase in those reliant on gifts and inheritance to fund their own property deposits The most common source of funding to buy a property does still remain to be savings. Whilst on the topic of savings, it is worth mentioning that MG Legal, solicitors Lancaster, offer fixed-fees on most property transactions, and Will drafting (as indeed do our accident claim solicitors).
In 1995, 22% of people waited for an inheritance or gift from a family member. This increased to 29% in 2016. The figures are not yet released for 2017 and 2018, but if you are looking to purchase your first property, or your tenth, then please contact your solicitors in Lancaster, MG Legal for a fixed-fee, no obligation quote. When you want the job doing properly, MG Legal, your local solicitor for Wills, and Conveyancing solicitors Preston, will be here to help.
MG Legal - Your Local Solicitors
Tagged as: Buyers, Contracts, Family advice, Garstang Solicitors, Inheritance, Solicitor Advice, Solicitors in Lancaster, Solicitors Morecambe, Your Local Solicitors
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