Clover Legacies -- "free" seminar on estate planning etc
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So you would look for regulation instead of what kind of company they are? Maybe In the form of say FCA or Law Society. Good advice thank you, I will do some research today to see if they have any regulation in place. Although with them only trading since earlier this year it's hard to see how they could have got approved by any of the regulators.
I am guessing if there isn't any regulation or governing body then if things were to go very wrong then (Like in the case of Universal Asset Protection) my father would have no where to go to recover any assets that were missing?
Thank you for your input bowlhead99!0 -
Any firm firm that focuses on care home fees should not be touched with a very long barge pole unless they are talking about preserving enough wealth to be able to pay them.0
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I'm not sure if Clover Legacies are focusing on avoiding care home fees but my father when telling me about the Clover Legacies "Free" seminar just referred to "finding out how to do this at the seminar! seeing him tomorrow so will make him listen to the BBC report about universal and we will see.0
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So you would look for regulation instead of what kind of company they are? Maybe In the form of say FCA or Law Society.
The activity being carried out can be done by solicitors. Or they can be done by unregulated, unqualified individuals who may have done as little as read a book over the weekend.
Where the planning involves the provision of financial advice, then that activity is regulated. Although it often doesn't stop unregulated firms crossing the line.
Looking at the Clover Legacies website, they seem to focus totally on the unregulated and unqualified (as in not needing any qualifications) side of things. Although they do have STEP membership. Just no legal authorisations or financial authorisations.
There is nothing to indicate or even hint of wrongdoing here. it is just an area where regulation is not present (although some regulated financial or legal firms will work in this are) and the quality will vary.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
I went to a seminar like this many years ago. I found it useful. But then I had no intention of buying anything from them. Perhaps the time to go to such seminars is when you are middle-aged, not when you are old.
Maybe you should attend in his stead. Seriously.
On a more general point about avoiding IHT, care home fees, and so on: my FIL once suggested that he and his wife gift their house to my wife. I hit the roof - what a mad bloody idea (I didn't phrase it like that). In other words, not only may you have to defend your father from sharks, you may have to defend him from loony improvisations of his own devising.Free the dunston one next time too.0 -
Does your father live on a sink council estate claiming Housing Benefit in order to avoid having to pay any rent or mortgage interest?
If he doesn't, what has he suddenly found attractive about refusing to pay any accommodation costs and letting the Government house you in the worst and cheapest accommodation available?
There is no practical difference between paying rent or mortgage so you don't have to live in a council flat and paying care fees so you don't have to go to a council-selected care home.
As for the other things he is interested in:
Wills - see a regulated solicitor.
LPAs - unlike Wills, can be easily done online - go to https://www.gov.uk/power-of-attorney.
Inheritance tax avoidance - check whether he even has a problem (do his assets exceed his Nil Rate Band or Bands?). Check whether he has eliminated the most tax-efficient Inheritance Tax solution, which is to spend the money, and the second most tax-efficient, which is to give it away. If he has already exhausted those options, see a regulated Independent Financial Adviser.0 -
Chillierabbit77 wrote: »So looks like a sales pitch with potentially empty promises then. Thank you for all of your help. I have looked at this company at companies house and it would appear that it has only been established a few months ago. this is also worrying but they have a good looking website. Not that this makes any company any less likely to be ripping old people off. I remember looking into Universal Asset Protection at the time of their "how to avoid care fees" free seminar and their website looked very legitimate and professional! Thank you once again.
It doesn't cost much to set up a professional looking website, so don't be fooled by that. Clover Legacies have used an outfit in the Philippines to design their logo.0 -
How can you tell that this has been developed in the Philippines?0
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The site appears to be developed by Bang Graphics in Essex - if you are interested in the director's name take a look at
https://www.banggraphics.co.uk/pf/clover-legacies/0 -
Companies house is interesting once some digging is done and addresses are cross-referenced:
https://beta.companieshouse.gov.uk/officers/OTpRdJtsNnLPcA1agyRULeeZ3XE/appointments
https://beta.companieshouse.gov.uk/company/11233790/officers0
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