Universal wealth management ( Inheritance planning company) closed down
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Browntoa
Posts: 49,302 Forumite
The collapse of an inheritance planning firm that has left dozens of clients fearing for their life savings is being investigated by police.
Universal Wealth Management ran seminars called Keep It In The Family, in which they promised to protect people's assets from inheritance tax.
The Ipswich-based firm also promised to help people avoid care home fees.
I saw this on the BBC and thought you should see it:
Universal Wealth Management: Police probe Ipswich firm - http://www.bbc.co.uk/news/uk-england-suffolk-45829270
Universal Wealth Management ran seminars called Keep It In The Family, in which they promised to protect people's assets from inheritance tax.
The Ipswich-based firm also promised to help people avoid care home fees.
I saw this on the BBC and thought you should see it:
Universal Wealth Management: Police probe Ipswich firm - http://www.bbc.co.uk/news/uk-england-suffolk-45829270
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crooks in suits"A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
Well, I wouldn't trust any company that offered to save my house from care home fees. By now, most people must realise these plans don't work, besides being morally dodgy.0
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This sounds as dodgy as the stamp duty avoidance schemes...0
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And the cash in your pension scammersEx forum ambassador
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Well, I wouldn't trust any company that offered to save my house from care home fees. By now, most people must realise these plans don't work, besides being morally dodgy.
......and those that did fall for it will now realise the house they thought they owned is actually part of the assets of a bankrupt company (if my understanding of how their scam worked is correct)0 -
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martinthebandit wrote: »......and those that did fall for it will now realise the house they thought they owned is actually part of the assets of a bankrupt company (if my understanding of how their scam worked is correct)
No the houses were put in trust, with the owners of the company being trustees. Eventually the trustees should be booted out. The same should apply to the cash, but goodness knows what sort of investments have been made with it , so there might not be much of it left.
My sympathy for the victims is tempered somewhat by the fact that people are usually sucked into such schemes because they are driven by their own greed.0
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