Not-so-small inheritance for the kids
I wonder if anyone has been in a similar position and wouldn't mind sharing their experiences please.
I've 2 kids not quite old enough to own property - which I believe is 18 years old? They've received a sum from grandparents which they are not aware of yet, (I got nothing! - I hope it's not the start of a generation-skipping trend). I was told, by their grandparents to "invest it carefully for them".
Despite the growing pressures on landlords I still think property is a decent investment (I'm in a nice part of the North of England). So question is, how can I invest their money in a property since they are both under 18? I was thinking perhaps setting up a limited company in which I could let them own shares to the value of their portion. So lets say I issue 6 share in the company of which they both own 1 share each? (a sixth each would probably be the split, I would fund the rest in cash, so no borrowing). So they would not be directors, but shareholders only? Would that work?
I'm a reasonably experience landlord, carry out most refurb work myself (people tell me my work is of a very high standard (blush!) and I manage my properties myself. Your thoughts would be appreciated. Thanks in advance.
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