IHT Planning

Dave_w

Does anybody on here have any experience on Bluebond IHT planning, looks good but does it do what it says on the tin?

Keep_pedalling

No personal experience but they are unregulated which is a red flag for me personally.

From a previous thread you seem to be in your early 80s which is a bit on the late side for IHT planning. How deep into IHT territory are you?

BlackKnightMonty

maybe gift some of your wealth now to avoid IHT ?

Albermarle

Even if they are a reputable company ( I have no idea) , the kind of planning they appear offer is more suitable for people who are properly wealthy say (£5M plus) and have a complicated financial position.

IHT planning using trusts etc is normally a bad idea for your average 'mass affluent' type. They are complicated, expensive and often do not work. Plus they will give your Executor a headache sorting them out.

The easiest way to reduce IHT, is to spend more, or give away more to friends/family/charity.

Link to another thread on a similar topic. ( although to be clear there is no indication that Bluebond are involved in this).

Pension Scammers Target People Who Want To Avoid IHT — MoneySavingExpert Forum

poseidon1

Doesn't look good to me. This is their boast below

' We replace the need for separate solicitors, accountants, investment

managers, and financial planners with a single, comprehensive,

coordinated strategy that works seamlessly across every

part of your financial life.'

However despite purporting to offer legal, accountancy and general financial services their business is not regulated by the main regulators in those sectors ie FCA, SRA or ICAEW.

This is a red flag for me given they purport to provide legal services as part of their offering -

https://www.bluebond.co.uk/our-expertise/legal-services/

Finally, their comprehensive disclaimer in their terms of business at clause 10 below is worrisome-

https://www.bluebond.co.uk/terms-of-service/

I know of no regulated professional service provider would incorporate the following disclaimer as a get out clause for wrong advice -

While we take reasonable care to ensure accuracy, we do not guarantee that information is complete, current, or suitable for every situation.

LHW99

A quick google search indicates Bluebond Group Ltd is offering this.

Their Co. page is at https://find-and-update.company-information.service.gov.uk/company/05913849

They appear to only have a single director (not illegal), although the recently (2024) resigned secretary remains "a person with significant control".

According to the downloadable 2024 accounts (from filing history) they are running an increasing deficit.

phlebas192

https://forums.moneysavingexpert.com/discussion/comment/81993512#Comment_81993512

Plus they will give your Executor a headache sorting them out.

Worth emphasising this point. Ultimately it is your executors who have to handle your estate and they will be personally liable for anything that is not kosher that they action. I am reminded of someone on another forum who kept saying about how he had come up with 'clever wheezes' to avoid IHT but never once accepted that by doing so he was putting a burden on his executors to the point where, IMO, no one would want to administer his estate. At best it would be left to the main beneficiaries who would be well advised to just ignore all his actions and pay the IHT as though he had never done them.

Keep_pedalling

https://forums.moneysavingexpert.com/discussion/comment/81993505#Comment_81993505

Potentially save, they would need to survive 7 years unless we are talking above gifting to charities.

Marcon

Potentially save, they would need to survive 7 years unless we are talking above gifting to charities.

Unless OP can make gifts out of surplus income, in which case no survival requirement. Good explanation here: https://techzone.aberdeenadviser.com/public/iht-est-plan/gifts-out-of-surplus-income

Bostonerimus1

https://forums.moneysavingexpert.com/discussion/comment/81993555#Comment_81993555

A "Google Lens" image search on the "Our People" section brings up some interesting results. "Paul" comes up as a professional headshot and the first few images are also associated with a company called Phlobee that offer admin services to UK companies. Many of the "people" are located in Bulgaria. Now I've worked with some fantastic Bulgarian mechanical engineers, but I don't really think I'd want my finances and IHT issues to be managed from Bulgaria.

The principal comes up as Charles de Lastic and he does not have a biography that would make me rush to his door. So not one for me.

If you want financial advice go to a local IFA or larger financial services/tax advisors company that you can physically visit and is well known. Don't look for a cheap internet deal.

BlackKnightMonty

https://forums.moneysavingexpert.com/discussion/comment/81993831#Comment_81993831

it’s a sliding IHT scale. If you die before the seven years they will have some IHT but not all of it to pay. Just share a bit, help them, and don’t worry about it!