Trust advisors, you REALLY cannot trust

21 May 2015

We are urging you to beware of unregulated trust companies...as you might just find that your 'advisers' are themselves on the wrong side of the law.

Trust advisors, you REALLY cannot trust

We are urging you to beware of unregulated trust companies...

...as you might just find that your ‘advisers’ are themselves on the wrong side of the law.

In a recent blog article,  I warned of the dangers of relying on unqualified, unregulated advice when planning for the payment of future care home fees, and passing on your home and other assets to your family after death. 

The risks have now also been highlighted in the criminal courts. In recent days, three defendants who had been operating in the Lincolnshire area have received immediate prison sentences of up to 4½ years at Nottingham Crown Court for their role in mis-selling ineffective trust arrangements to vulnerable elderly clients. Over two years, they charged fees of £250,000 for documents which were ineffective (and in some cases not even completed for the clients). Five of their colleagues have received suspended sentences for their involvement in fraudulent trading and unlawfully carrying out reserved legal activities. Read more about the case here.

If you have been the victim of unscrupulous individuals such as these and are worried about arrangements you have been persuaded to put into place, please get in touch.

We will ensure you receive sympathetic advice from highly qualified solicitors who have undertaken additional, specialist qualifications from the Society of Trust and Estate Practitioners in this complex legal area.

 

 

 

 


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