[IHTM14301] IHTM14301 – Lifetime transfers: gifts with reservation (GWRs): requirements for a GWR
The gift with reservation (GWR) legislation was introduced in 1986 to avoid individuals making gifts with strings attached. The legislation was designed to combat instances of donors seeking to transfer property outside of their estate, whilst continuing to derive benefit. A straightforward example of this is where a donor transfers his entire interest in his property to another. He remains living in the property until the date of his death. This will be a GWR because he continued to derive a benefit from the property after the date of gift. The property will then be deemed by the legislation to form part of his estate at the date of his death.