Hi @caseslot caseslot
Thank you for your query.
Based on the information that you have provided, buying the property in the name of your children may not be a good option for you. There are a number of factors to consider, particularly the tax implications and how the property will be managed by your children in future. You also need to consider the consequences of anything happening to your children and how this will impact the rest of the family. The divorce, death or even bankruptcy of any of your children could have a serious effect on what happens to a share of the property.
In addition, your youngest son will not be able to own property until the age of 18 and, as you mention he has severe learning difficulties, he will need to have the required mental capacity to accept a share and deal with any necessary documents that are required unless a Deputy is appointed to do this on his behalf.
As you already have provisions in place to leave your assets to a discretionary trust on your death, it might be best for you to own the property and then leave it to the trust, as you suggest. Your wishes about providing a home for your son can be set out in the letter of wishes. It will then be up to your chosen trustees to make suitable provisions at the time to provide a home for your son.
Any assets held in the discretionary trust will not belong to your children and, if your son requires care in future, the assets in the trust will not be taken into account when assessing his financial situation.
I hope that helps to clear things up but please let me know if you have any further questions.