Beware of untrustworthy sellers – if it sounds too good to be true, it normally is!
Have you entered into a Family Protection Trust, a trust set up during your lifetime into which you have transferred your property? The exponents of such schemes promise that you will be able to protect your home from care home fees and inheritance tax while continuing to live in the property.
Sound too good to be true? It is!
These trusts do nothing of the sort, cost a small fortune to set up and often the companies set up to carry out this work are unregulated which means there is no recourse when things go wrong.
These scams are often advertised in the local press or even sold at the front door. Most
clients receive no legal advice before transferring their homes. If the above applies to you please seek advice from a qualified lawyer – if you are considering entering into such a scheme, don’t!
If you’re unsure if a ‘Family Protection Trust’ is for you, or you’d like someone to review yours for peace of mind please contact Roz Wyeth at Donnelly & Elliott on 02392 50 55 00.
