property protection

gripper123

my wife and I are going to moving to a lodge in a residential park and have just done our wills and power of attorney but was told because we would not own the land of the lodge we could not get property protection, does anyone know away around this thanks

Aylesbury_Duck

The pensions forum is probably not the best place for this. Someone will come along and perhaps move it to somewhere more appropriate.

On a general point, please make sure you understand exactly what you're getting into. The fact you aren't sure about the consequences of not owning the land the lodge is on suggests there's a but more due diligence to be done before you sign any agreement. Have you got a solicitor helping you, like someone would have if they were buying a house?

Keep_pedalling

What do you mean by prototype protection? If you were thinking of putting it in some useless property protection trust to avoid care costs, it would not work even if you held the freehold.

Marcon

https://forums.moneysavingexpert.com/discussion/6660957/property-protection

Hopefully the solicitor who drew up your wills can assist.

QrizB

... was told because we would not own the land of the lodge we could not get property protection ...

When you say "property protection", are you referring to the Residence Nil Rate Band for inheritance tax?

user1977

Surely whoever is doing your wills / powers of attorney is the best to ask to clarify if you didn't understand what they were talking about?