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  • FIRST POST
    • happyhero
    • By happyhero 31st Mar 14, 1:16 PM
    • 1,143Posts
    • 54Thanks
    happyhero
    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?
Page 13
    • Doc N
    • By Doc N 21st May 18, 5:21 PM
    • 6,658 Posts
    • 19,538 Thanks
    Doc N
    If Cohen Knights are registered at the same address as Universal is this not worrying though?
    Originally posted by tripslipper
    Changed now:

    https://beta.companieshouse.gov.uk/company/OC420338


    It's possible of course that this is a perfectly bona fide unconnected purchase by Cohen Knights LLP of the business and/or database previously owned by Universal.

    Time will tell.
    • Glen Clark
    • By Glen Clark 21st May 18, 11:56 PM
    • 4,138 Posts
    • 3,157 Thanks
    Glen Clark
    Not everyone with a Trust is trying to as you put it ' bung their relative in a cheap home', some have complex mixed marriage/childrensituations and they want to ensure that their children/family get their rightful inheritance rather than the 'new' family.
    Originally posted by tripslipper
    Can I refer you to post 211?

    Well if thats all thats wanted why not just consult any solicitor?
    Instead of a bunch of con men who were promising a way to make us pay their care home fees?
    Originally posted by Glen Clark
    No one has answered that.
    Evading care home fees was at the forefront of the sales pitch, and the BBC programme.
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
    • Bolaji
    • By Bolaji 22nd May 18, 3:20 AM
    • 1 Posts
    • 0 Thanks
    Bolaji
    I can only speak from my own opinion, but it read like a typical apology letter you receive from any street bank. It mainly consisted of comments about delays being "unforeseen" and having many satisfied customers.
    • Barker Gotelee
      Verified User verified user
    • By Barker Gotelee Verified User verified user 22nd May 18, 10:47 AM
    • 5 Posts
    • 8 Thanks
    Barker Gotelee
    Cohen Knights and Trust Deeds
    Hopefully when a solicitor approaches them they(Cohen Knights) act professionally and comply?
    Does anyone know if their solicitor has managed to transfer the title deeds yet?
    Originally posted by tripslipper

    Yes, when I have contacted Cohen Knights, they have acted very professionally, and, as I have said, have been extremely helpful.


    I am in the process of transferring title deed on properties and have every confidence that the land registry will act on the documentation sent - of course every situation is different and some may be more complex than others.


    Just on a side note, following contact from another firm, I confirm that this firm does not hold any Universal client's deeds other than those where our clients have specifically asked us to obtain these. A few people seem to think we hold all of the Universal deeds - this is not the case. We are a separate law firm and are not connected to Universal.


    Kind regards
    Becky
    Verified Company
    I am a verified representative of Barker Gotelee. MSE has given permission for me to post in response to queries about the company so that I can help solve issues. You can see my name on the Verified Companies list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE.
    • Doc N
    • By Doc N 23rd May 18, 8:22 AM
    • 6,658 Posts
    • 19,538 Thanks
    Doc N
    BBC Radio 4 Money Box had a piece about these people/companies as the lead item today. Listen again here after the end of the programme:


    https://www.bbc.co.uk/programmes/b0b1hww2


    Very interesting, with, I'm sure, a lot more still to come - possibly BBC1's consumer programme, Watchdog, and Radio 4's consumer programme, You and Yours. The better the coverage the greater the chance of getting some action.

    Reference was made to two arrests in Ipswich on suspicion of fraud (now released on bail) - well worth listening to.
    Originally posted by Doc N
    Just as an update to this, last Saturday's Money Box contained a further, very useful, item on Universal, with good advice on how to proceed, and the potential costs:

    https://www.bbc.co.uk/programmes/b0b39ph0#playt=0h14m47s

    The two people arrested on suspicion of fraud by Suffolk police have apparently been rebailed to appear in court on 21 July.
    • Malthusian
    • By Malthusian 23rd May 18, 9:17 AM
    • 4,095 Posts
    • 6,412 Thanks
    Malthusian
    The two people arrested on suspicion of fraud by Suffolk police have apparently been rebailed to appear in court on 21 July.
    Originally posted by Doc N

    Surely their identity should be known by now? We don't hold secret trials in this country.
    • Doc N
    • By Doc N 23rd May 18, 10:06 AM
    • 6,658 Posts
    • 19,538 Thanks
    Doc N
    Surely their identity should be known by now? We don't hold secret trials in this country.
    Originally posted by Malthusian
    You're entirely right, of course. I've just searched the local newspaper and elsewhere for further details and found nothing at all.

    The BBC presumably know the names of the two people arrested, but for legal reasons (maybe) aren't saying who they are. I think they're building up to a major story on this and still at the fact-gathering stage.

    I'm surprised the Ipswich Evening Star doesn't have more on this - maybe it does, but has a poor search facility.
    • Glen Clark
    • By Glen Clark 23rd May 18, 11:05 AM
    • 4,138 Posts
    • 3,157 Thanks
    Glen Clark
    The BBC presumably know the names of the two people arrested, but for legal reasons (maybe) aren't saying who they are.
    Originally posted by Doc N
    Perhaps they are being more careful after their Cliff Richard fiasco. (The BBC broadcasted photos of his home being searched on pedophile allegations he is not guilty of)
    Last edited by Glen Clark; Yesterday at 11:07 AM.
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
    • Malthusian
    • By Malthusian 23rd May 18, 11:23 AM
    • 4,095 Posts
    • 6,412 Thanks
    Malthusian
    Actually, perhaps they are still anonymous. Articles about people being arrested always seem to end with "A spokesman for Merseyside Police said 'A 52-year-old man and a 36-year-old woman have been held in custody" or words to that effect. So maybe the police don't officially disclose your name until you are due to appear in court.
    • tripslipper
    • By tripslipper 23rd May 18, 12:05 PM
    • 3 Posts
    • 0 Thanks
    tripslipper
    tripslipper
    Except a poster who has checked says that 3 of those listed for Cohen Knights are ex Universal!
    • eskbanker
    • By eskbanker 23rd May 18, 12:13 PM
    • 7,137 Posts
    • 7,565 Thanks
    eskbanker
    Except a poster who has checked says that 3 of those listed for Cohen Knights are ex Universal!
    Originally posted by tripslipper
    Your comment doesn't seem to relate to any of the more recent posts - when replying to an earlier post, it helps to use the 'quote' button at the foot of the post concerned (as I've done with yours), so that people can see clearly what you're answering....
    • Doc N
    • By Doc N 23rd May 18, 12:35 PM
    • 6,658 Posts
    • 19,538 Thanks
    Doc N
    Actually, perhaps they are still anonymous. Articles about people being arrested always seem to end with "A spokesman for Merseyside Police said 'A 52-year-old man and a 36-year-old woman have been held in custody" or words to that effect. So maybe the police don't officially disclose your name until you are due to appear in court.
    Originally posted by Malthusian
    You've hit the nail on the head. Arrests, bail, no charges yet so no court appearances, therefore no names.

    On 21 July (unless the court appearance is adjourned) we should get some more information.
    • Nicolehogger
    • By Nicolehogger 23rd May 18, 4:29 PM
    • 2 Posts
    • 0 Thanks
    Nicolehogger
    Cohen Knights
    Your comment doesn't seem to relate to any of the more recent posts - when replying to an earlier post, it helps to use the 'quote' button at the foot of the post concerned (as I've done with yours), so that people can see clearly what you're answering....
    Originally posted by eskbanker
    As I said previously, my brother worked for Universal last year as an apprentice. The two directors of Cohen Knights are previous employees of the company, who were in senior management positions and close with Mr Long.

    This was my brothers first job, and he was dismissed very inappropriately and was not paid for a months work. Pretty awful thing to do to an 18 year old kid!
    • Leos mum
    • By Leos mum 23rd May 18, 7:51 PM
    • 1 Posts
    • 1 Thanks
    Leos mum
    Police Bail
    What it said on MoneyBox was that the 2 people arrested have been bailed to return to the police station - not to Court. That means they are on police bail and haven't been charged with anything. Until/unless they are their names won't be released.
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