Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I'm still looking forward to (a link to) Chris Cook's diary about how to set up a house as an LLP.  I don't understand it yet (I'm not good at tax laws). but from what he says, I think it'd meet many criteria for older people who would like to release some equity in their property without "giving the property back to the banks".  I also think it'd have an effect if later illness(es) involve(s) various expenses, where at present the value of the property is considered (if I understand the situation correctly) an asset which can be used to pay for treatment--which leads to people selling their houses for treatment and spending all the money (down to £17,000?) on tretament, eg a nursing home.  Not that those who can afford such expenses shouldn't or couldn't pay, but that under an LLP "wrapper" (even "wrapper" I don't quite understand!) the property would work in a different way so there would be different possible outcomes.

The above only showing how little I understand...wot I just rote.

Don't fight forces, use them R. Buckminster Fuller.

by rg (leopold dot lepster at google mail dot com) on Mon Mar 26th, 2007 at 08:01:36 AM EST
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