Helping my son and his wife renovate their home?

How you allocate any money you are gifting can be important

The property in question requires extensive renovations as it has been unoccupied for 10 years.

The property in question requires extensive renovations as it has been unoccupied for 10 years.

I am a Canadian citizen, living in Canada. My son, daughter in law and granddaughter live in Ireland. They have put a down-payment on their first home and are awaiting confirmation of probate from the court by way of their lawyer.

Once probate is received, they will pay the balance of the purchase price of their home The property requires extensive renovations as it has been unoccupied for 10 years. We are waiting for an updated quote but it will likely cost tens of thousands of dollars.

The Irish Times
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