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    • happyhero
    • By happyhero 31st Mar 14, 1:16 PM
    • 1,089Posts
    • 54Thanks
    help please with Universal Wealth preservation Trust
    • #1
    • 31st Mar 14, 1:16 PM
    help please with Universal Wealth preservation Trust 31st Mar 14 at 1:16 PM
    Hi my mother is fretting over a scheme she has just paid for, one of those things where they tell you to take out a trust to protect yourself from inheritance tax so that that you can pass on more to your family rather than the tax man. She thought it was great at first but is now having doubts as to whether it is worth the money and does she really need it etc. I went to the first seminar with her and was with her for when they came round to arrange the trust she needed. She picked stage 2 and it came to £4000.

    Has anybody got any experience of these people or similar schemes?

    Once in the trust your property and savings/investments are protected from tax and any other attack basically.

    Both the seminar talker and the guy who came round have a bunch of qualifications in finance/investment and legal stuff, the seminar talker was a non practicing solicitor, i.e he used to be a solicitor before he did this.

    I like to think I am not easily swayed or taken in and both guys seemed nice genuine people plus I felt what they said made sense. I understood it all but my mother was worried that she did not. She feels all control will be taken away as they put the house and everything in trust whereas the way they do it is protect it in the trust and my mother becomes the boss for want of a better word and makes the decisions as to what will happen with everything, i..e who inherits what etc. Plus this way the property cannot be taken for things like care fees.

    I thought it was a good thing but my mother is now thinking of backing out and I must admit if she keeps being against it it does start to make me have doubts even though I was sure about it up till now.

    Can anybody tell me what they think or what would be brilliant if somebody has had this for a while and what their experience and thoughts of it are?
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    • metrobus
    • By metrobus 17th Apr 17, 10:52 PM
    • 1,350 Posts
    • 677 Thanks
    Thanks guys and the BBC for bringing this companies activities to our attention.
    • Doc N
    • By Doc N 18th Apr 17, 6:41 AM
    • 6,198 Posts
    • 19,131 Thanks
    Doc N
    Ironic, isn't it - the way these people's attempts to stop the BBC and others from publicising the problems with these companies have backfired on them and made this excellent thread even more visible on Google than it already was!

    If (text removed by MSE Forum Team)is watching (which I strongly suspect he is), here's a couple of words for you - Streisand Effect. It might help you.
    Last edited by MSE ForumTeam5; 16-05-2017 at 9:07 AM. Reason: Personal details
    • jimjames
    • By jimjames 18th Apr 17, 9:24 PM
    • 11,907 Posts
    • 10,288 Thanks
    BBC Care home fee avoidance by Universal Wealth trust
    We consider that the content of the programme presented a very one sided version of events, was misleading and did not show this company or the wide range of professional services it offers in the correct light.
    Originally posted by UniversalWealthP
    So are you denying that you send out marketing leaflets as per the example on the BBC website? Has the BBC fabricated a leaflet as yours when it's not? Why do you claim to provide a service to avoid care home fees on your leaflets then deny it afterwards?

    Remember the saying: if it looks too good to be true it almost certainly is.
    • racey
    • By racey 19th Apr 17, 9:26 AM
    • 130 Posts
    • 44 Thanks
    Universal operates nationwide and employs a team of highly experienced and qualified lawyers, accountants and tax specialists to provide expert advice.
    Originally posted by UniversalWealthP
    It's unusual , I think, for legal companies to have a website that has no "meet the team" list of employees. No employee is mentioned by name, not even Mr. Long its sole director.
    It would provide some reassurance, when contemplating using this company, if there was some reference to the team that are providing expert advice together with details of their experience and qualifications.
    There's a "meet our consultants" box on the main page but no link.
    It's a website that anyone can set up offering a service that anyone can purport to provide.
    Last edited by racey; 19-04-2017 at 9:29 AM.
    • Frenchie46
    • By Frenchie46 30th Apr 17, 8:38 AM
    • 1 Posts
    • 4 Thanks
    My late father got conned by these people. He told me everything was in trust and managed by these people, not to worry, on his death it would be very simple. He couldn't have been more wrong. He paid thousands of pounds to set up a trust that was not beneficial to him or his descendants in anyway. Our solicitor could have set up something better for a few hundred pounds. On the contrary these people were very awkward about releasing the funds, it took months of battling, nasty exchanges by phone and letter from us and our solicitor. We had to pay Universal's extortionate fees for signing papers, bank transfers, handling fees etc. It took almost a year from my fathers death to finally receive all the money from the trust. They had no right to keep it this long. And did they pay us any interest? a very derisory amount caculated by themselves. They had all the power over my dads estate. There is no governing body for these people, only the courts. After all the stress they put us through at a really horrible time after my father's death we couldn't handle the stress of taking them to court.
    So please ask a local solicitors advice. Show them the documents universal have put in place. I wouldn't want anyone to suffer like us because of these people. They are excellent salespeople. My father was an ex schoolteacher, so he wasn't stupid,but unfortunately he fell for their sales pitch.
    • Doc N
    • By Doc N 30th Apr 17, 8:51 AM
    • 6,198 Posts
    • 19,131 Thanks
    Doc N
    Thanks for sharing that experience, Frenchie46 - yet further food for thought about this group.

    I wonder if 'the official company representative of Universal Wealth' would care to comment? He (or she) seems very reluctant to respond to any questions put, though.
    • fergies_army
    • By fergies_army 21st May 17, 8:39 PM
    • 102 Posts
    • 64 Thanks
    Thanks for sharing that experience, Frenchie46 - yet further food for thought about this group.

    I wonder if 'the official company representative of Universal Wealth' would care to comment? He (or she) seems very reluctant to respond to any questions put, though.
    Originally posted by Doc N
    I wouldn't hold your breath.
    • Doc N
    • By Doc N 21st May 17, 10:45 PM
    • 6,198 Posts
    • 19,131 Thanks
    Doc N
    Now here's a thought for MSE and Martin Lewis, fresh from their excellent expose of John Lewis' underhand tactics with their 'Never Knowingly Undersold' policy.

    Why not a little more detective work in relation to Steven Long and his various companies operating under the Universal Wealth or similar names?

    Various posts have, after all, been removed from this thread, and some of us might be left wondering why that was.

    Perhaps MSE would like to do a little more detective work to add to the growing fund of knowledge about Long and his companies? After all, it might actually end up recommending them as good value - who knows?
    • newbiesaver55
    • By newbiesaver55 22nd May 17, 10:17 AM
    • 66 Posts
    • 35 Thanks
    Also interested in this company...
    • newbiesaver55
    • By newbiesaver55 22nd May 17, 10:42 AM
    • 66 Posts
    • 35 Thanks
    • ColdIron
    • By ColdIron 22nd May 17, 11:58 AM
    • 3,200 Posts
    • 3,655 Thanks
    Originally posted by newbiesaver55
    After 25 minutes?
    What do you think the previous 128 posts are missing? Have you read them?
    • newbiesaver55
    • By newbiesaver55 29th May 17, 11:52 AM
    • 66 Posts
    • 35 Thanks
    Yep I have. Frightening stuff. This company are still putting on seminars. it's always good t stay up to date.

    Thanks though!
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