What Are The Tax Consequences If My 85 Year Old Mother Transfers Home Title To Her 3 Kids?

In UK this could be seen as getting rid of assets particularly due to your mother's age unless she has ample other monies to support herself should she have to go into a nursing home.  The authorities could come after the children to pay the nursing home fees or any other monies needed to support her.  It is not only the tax consequences you have to consider it is the legal consequences and I feel you should consult both accountants and solicitors so you do not make a serious error.

In the United States, your mother would be subject to a gift tax for gifting more than, $13,000 to one individual. That's all that one is able to gift to another which is what transfering the title to home would be -- a gift. If the home were worth, let's say, $300,000, then your mother would be liable for gift tax on $261,000. That's huge. Absolutely positively check with a tax adviser before even considering this.

If you are just making plans for distribution in the event of your mother's death, then it's a simple matter to get a land trust with your mother as the "Primary Beneficiary" and each of her three children as equal "Contingent Beneficiaries." Any bank with a trust department can do this for you for a reasonable fee.

On the other hand, what Solentjay says is true here in the States, as well. It could easily be seen as an inappropriate transfer of assets to save them from nursing home fees. (I think there's a two or three-year look-back.)