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Setting up a trust gives you peace of mind that your assets are protected and your loved ones will be looked after in future. Choosing a company to act as trustee is a big decision and you expect the company to have your best interests at heart.

Our solicitors have helped clients who’ve lost control of their assets and life savings because of a Universal Wealth Preservation Trust. If you or a loved one is in this situation our expert team of solicitors could help and advise you on the best way forward.

What Is A Universal Wealth Preservation Trust?

These trusts were set up by a company called Universal Wealth Preservation Limited (UWP) and encouraged clients to transfer ownership of assets (such as their homes) into trusts with the Directors of UWP acting as the trustees. Clients believed they were protecting themselves and their families from inheritance tax and expensive care home fees.

Unfortunately UWP was put under administration leaving many people unable to contact the company and regain control of their assets and savings. A recent broadcast on the Money Box show on BBC Radio 4 highlighted the problems people face when signing over their assets to unregulated individuals and companies like UWP.

If you have a UWP Trust our trust solicitors could help you regain control of your assets and savings.

How Can I Regain Control Of My Assets?

It’s important to seek legal advice from a regulated law firm as soon as possible. Depending on your situation, you may face a number of problems such as:

  • Being unable to contact UWP
  • UWP naming themselves on property title deeds making you unable to sell properties to release funds
  • UWP being named as executors of estates causing delays in estate administration
  • Being unable to access original documents that are stored by UWP like Wills and Lasting Power of Attorney (LPAs)
  • LPAs not registered with the office of the Public Guardian so you or your family can't use them if needed

We understand that facing these problems can cause distress and alarm, especially when homes and entire life savings are involved. Our solicitors know how to deal with these issues and we’ll do everything we can to help you and your family get control back of your assets.

How Can Irwin Mitchell Help?

Irwin Mitchell is regulated by the Solicitors Regulation Association (SRA) and our solicitors have extensive experience in dealing with Will, Trust and Estate issues. We’ll provide you with impartial advice in an initial consultation. It’s important to note that each case is different and our advice depends on your situation and the level of involvement of UWP.

There is no obligation for you to take matters further. However, if you do, our solicitors will guide you through the process of removing UWP as a trustee which could include taking the matter to court if needed. We’ll aim to resolve your case within six months so you can move forward with your life knowing your assets and savings are safe.

How Do I Choose A Company To Advise On Will, Trust And Estate Planning?

It’s important to get the right advice when planning for your family’s future. A company should be regulated by a professional institute such as the Solicitors Regulation Authority (SRA) and the Law Society. These businesses will carry mandatory insurance to make sure you’re protected if something goes wrong.

If a company draws up a trust or Will for you, you don’t have to include them as executors or trustees. You may prefer to name a relative or friend as a trustee. However, it can help to appoint an independent party to help administer a trust especially when a relative or friend may lack the experience.

Our trust solicitors have dealt with all areas of trust law and we have the expertise and experience to make sure your trust is managed within the law and for the benefit of the beneficiaries. If you’re a trustee needing advice or you’re thinking of setting up a trust, we could help you.

Contact us online or call 0370 1500 100 for a no obligation discussion.

Read more on the dangers of unregulated trust companies like UWP.

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