Universal Wealth Preservation Trusts
Do you have a Universal Wealth Preservation Trust? Quite a number of people have set up trusts with Universal Wealth Preservation (UWP) and now have concerns about the trust following recent media reports and a notice on UWP’s website, which now appears to be unavailable.
A recent broadcast of the Money Box show on BBC Radio 4 highlighted some of the alarming problems that people are experiencing having signed over their hard earned homes to unregulated individuals. Clients and the media are now reporting that they are unable to get hold of UWP and cannot get control back of their houses, cash or other trust assets. In particular, a great deal of concern is being voiced on a Money Saving Expert forum which can be found here.
Had UWP been a regulated firm (such as a solicitors’ firm), there would be a number of controls in place to ensure that clients are protected, however unfortunately Universal are unregulated and so clients may feel left with little or no help.
We have a wealth of experience dealing with these types of trusts and are advising clients on the best way forward.
If you have a UWP trust and want advice on what to do now, contact us. Our expert team (regulated by the SRA) can explain how the trusts work and what your choices are and can offer a free 30 minute consultation.
Rebecca McCarthy is a solicitor in the private client department at Barker Gotelee, Ipswich solicitors.