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Property in Trust

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Hi. Please could anyone help me. I am 80yrs old and my husband died five years ago. We decided around 9yrs ago to put our property in trust  for our children and grandchildren. I am now informed that the Trust Company is being wound up and have been a[pproached by another Trust Company who are wanting me to transfer my property to them. They are also asking for money to enable them to do this. At the time of us first doing this it cost over £4000. and I feel I should not be asked for more money and dont know what to do next . Please could someone advise me. Thank you


  • Keep_pedallingKeep_pedalling Forumite
    8.2K posts
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    Oh dear! I am afraid you made a terrible error in being persuaded to do this. Whatever you do do not compound it by going with this new company. 

    It is to late to undo the trust, but you should be able to get family members appointed as trustees rather than what is almost certainly a dodgy unregulated trust company. You will probably need professional legal advice to do this.

    Who was the original company and who are the new scammers?

  • tdphrmitdphrmi Forumite
    6 posts
    First Post
    The original company was The Family Trust Corporation and the new Company is Philips Trust. I will take your advice and look into getting family members appointed as trustees. Thank you so much for your help
  • xylophonexylophone Forumite
    35.6K posts
    Part of the Furniture 10,000 Posts Name Dropper
    the customer can ask the Family Trust Corporation to retire and appoint new trustees in their place if they so choose to do. This request can be made by contacting Philips Trust Corporation Ltd.
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