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  • FIRST POST
    • happyhero
    • By happyhero 31st Mar 14, 1:16 PM
    • 1,133Posts
    • 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?
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    • Hellibore
    • By Hellibore 22nd Mar 18, 7:04 PM
    • 3 Posts
    • 0 Thanks
    Hellibore
    He thought the money may be Long gone, excuse the pun.
    We have no idea where he invested the funds given to his care when my fathers house was sold. It should be in client designated trust accounts, but then again he should be communicating with us!
    I think the BBC a good idea.
    • ANGUSM3C
    • By ANGUSM3C 25th Mar 18, 12:02 PM
    • 5 Posts
    • 0 Thanks
    ANGUSM3C
    Universal Victims
    I am currently about to demand an account from Steve Long after 3 years of lying and prevarication. I have a barrister on the case and am awaiting the outcome of an investigation by the relevant authorities.. I too, am not going to let him walk away with the substantial sums apparently embezzled from a number of victims.
    I wouldnt mind betting that Steven Long is behind Cohen Knights LLP. Members are all ex Universal employees.

    Please contact me on email to discuss off line. Their may be some synergy in our cooperation.
    angusmacdonald@btinternet.com
    • Doc N
    • By Doc N 25th Mar 18, 4:51 PM
    • 6,623 Posts
    • 19,494 Thanks
    Doc N
    I am currently about to demand an account from Steve Long after 3 years of lying and prevarication. I have a barrister on the case and am awaiting the outcome of an investigation by the relevant authorities.. I too, am not going to let him walk away with the substantial sums apparently embezzled from a number of victims.
    I wouldnt mind betting that Steven Long is behind Cohen Knights LLP. Members are all ex Universal employees.

    Please contact me on email to discuss off line. Their may be some synergy in our cooperation.
    Originally posted by ANGUSM3C
    Good luck, and the idea of cooperation is excellent. But I’d remove your email address if I were you........unless you like vast quantities of spam. It’s likely to get harvested. You could PM it to anyone interested of course and exchanging information is a really good idea.
    • don't get mad get even
    • By don't get mad get even 26th Mar 18, 12:45 PM
    • 4 Posts
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    don't get mad get even
    Universal
    We have received initial advice from a barrister that suggests we have a good case for getting the Longs removed from their positions as Trustees and that the Court can order them to produce information as to the whereabouts of the Trust's assets - ie the money that they have not paid out to beneficiaries.

    I have also dropped a note to BBC Money Box to ask them to follow up the story they did last year.
    Last edited by don't get mad get even; 26-03-2018 at 12:50 PM.
    • anonyman2018
    • By anonyman2018 28th Mar 18, 10:28 PM
    • 1 Posts
    • 0 Thanks
    anonyman2018
    I am in a position that has enabled me to review several of the Trust Deeds that Universal use for their Asset Protection Trusts. The ones that I have seen include express powers for the Settlors (clients) to remove, retire and replace the Trustees at their complete discretion and without their consent. This means that at the very least the Longs (or Universal where one of their many companies are named) can be easily retired. They then have an obligation under the terms of the Trust to do everything necessary to transfer the assets over to the new Trustees. For them to disregard or ignore this is breach of trust and something that makes them very personally liable for any losses.


    The problem that is then encountered is the updating the Land Registry title (where the Trusts holds property). If they refuse to sign the transfer the only option is to apply to Court. One would hope that the result would be a foregone conclusion as the Longs are no longer be Trustees, have no rights to remain on the title and are obliged by the Trust provisions mentioned above. Sadly this will cost but would hopefully not be anywhere near the £60k that others have quoted.


    As an aside I have second hand information that the Longs are enjoying an extended break in Spain. The wonders of a certain data infringing social network have thrown up pictures of him and his family recently.


    Class action is a great idea but quite how you bring everyone together is a sticking point. If anyone does have any ideas or starts to put something together I would be very happy to help and will check back here regurlarly!
    • faddy
    • By faddy 9th Apr 18, 9:30 PM
    • 446 Posts
    • 49 Thanks
    faddy
    Anyone know if there's any connection between Universal and these people? http://www.inheritance-preservation.co.uk/
    • Reaper
    • By Reaper 10th Apr 18, 8:56 AM
    • 6,226 Posts
    • 4,478 Thanks
    Reaper
    I don't think so
    • Malthusian
    • By Malthusian 10th Apr 18, 8:57 AM
    • 3,930 Posts
    • 6,135 Thanks
    Malthusian
    Can't see any obvious connection. The website claims to be run by Scio Learning & Research (SLR) Ltd which is owned by Gary Steven Robertshaw.

    On the front page there is the text "Making a Will is not enough!" which echoes identical text on Universal Wealth adverts, including the exclamation mark. But that could be a coincidence, or conscious or unconscious imitation. It's not a distinctive turn of phrase.

    Universal Wealth aren't the only ones claiming there is a magic solution to care fees.

    I would approach this company with extreme caution, given that there is no indication of them being regulated to provide legal or financial advice, or of what qualifications the director has to advise on Inheritance Tax mitigation. (Dr Robertshaw states on his LinkedIn profile that he is an expert in "direct, digital and data-driven marketing".) But I can't see an obvious connection to Steven Long.
    • Cyberman999
    • By Cyberman999 11th Apr 18, 3:10 PM
    • 2 Posts
    • 0 Thanks
    Cyberman999
    Hello all

    My parent has just passed and we have discovered that a number of assets are being dealt with by Universal Wealth of Ipswich. They are impossible to get hold of or deal with. I do not wish to re-invent the wheel but would be very appreciative of advice and guidance. I await your replies with thanks and anticipation.
    • Doc N
    • By Doc N 11th Apr 18, 3:36 PM
    • 6,623 Posts
    • 19,494 Thanks
    Doc N
    Hello all

    My parent has just passed and we have discovered that a number of assets are being dealt with by Universal Wealth of Ipswich. They are impossible to get hold of or deal with. I do not wish to re-invent the wheel but would be very appreciative of advice and guidance. I await your replies with thanks and anticipation.
    Originally posted by Cyberman999
    There's no simple answer, but I suggest you read the posts from the last few weeks, maybe months, for various options.
    • atush
    • By atush 12th Apr 18, 12:50 PM
    • 16,640 Posts
    • 10,343 Thanks
    atush
    Hello all

    My parent has just passed and we have discovered that a number of assets are being dealt with by Universal Wealth of Ipswich. They are impossible to get hold of or deal with. I do not wish to re-invent the wheel but would be very appreciative of advice and guidance. I await your replies with thanks and anticipation.
    Originally posted by Cyberman999
    You've found the thread, now read it?
    • roger22t
    • By roger22t 18th Apr 18, 10:11 AM
    • 1 Posts
    • 0 Thanks
    roger22t
    Universal wealth preservation - a warning!
    WARNING – BE VERY WARY OF HAVING ANY DEALINGS WITH UNIVERSAL WEALTH PRESRVATION!

    I had the misfortune to sign up for one of their products which would have involved my house being put into a Trust upon my death.
    On reading through the proposals I was extremely concerned regarding who the Trustees were going to be as it appeared that the Trustees would be the Directors of Universal Wealth Preservation. People that I had no knowledge of or any idea if they were trustworthy and suitable as Trustees.

    Upon asking for clarification regarding this and other issues that I was not happy with, I received no response form Universal Wealth Preservation despite numerous emails.
    I requested that instead of proceeding with the Trust, I would like them to draft me 2 standard wills as our circumstances had changed. Again no response!

    BEFORE SIGNING UP FOR ANY OF THE RATHER DUBIOUS SCHEMES AND PRODUCTS OFFERED BY UNIVERSAL WEALTH PRESERVATION, I WOULD STRONGLY RECOMMEND YOU GET LEGAL ADVICE FROM A SOLICITOR OR YOU MAY WELL END UP LOSING CONTROL OF YOUR MOST VALUABLE ASSET (YOUR HOUSE).

    These people are quick to take your money then impossible to contact……. Steer well clear!
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