Mis-selling of Home Protection Scheme and Asset ProtectionTrusts

Mis-selling of Home Protection Scheme and Asset ProtectionTrusts

The Society of Will Writers has reported an increase in complaints received about Consultants promoting Home Protection Scheme and Asset Protection Trusts.  In these instances those promoting the product do not understand how it works, whether it is applicable in the circumstances or worse deliberately using phrases knowing them to be untrue to entice the consumer into parting with several thousand pounds in some cases.

The fact is that these are Life Interest Trusts and do not protect the settlor’s assets from Inheritance Tax or in the event of divorce and it cannot be guaranteed that assets held in one of these trusts will not be taken to pay for long term care fees.

If you are offered or are considering one of these trusts please click here to read the article on our website and the circumstances in which these trusts are a worthwhile investment. Alternatively contact us for advice.

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