Asset Protection Trust

Hi..
You are contact any attorney.

I have just heard that this is a scam the Company Directors of Kingsgate Legal Assistance have left the country along with lots of other peoples money and an associate has been arrested.
Unknown to me until my OP my Mum had parted with £1500.00 and has now no chance of recovering this so please if anyone is thinking of entering in anything which involves a paying a fee, check the company and the service offered out thoroughly before signing anything.

glass

I had no knowledge of this, so thank you for raising it.

It makes me so angry when these unscrupulous people take advantage of the elderly. If you shift your assets to one of these trusts (which I do not claim to understand, but do realise take away some of your control over your own savings) you lay yourself open to being allocated to the cheapest of care homes in your area because the other better quality homes charge more than the SSD contribution.

If you do not mind about that - and I would mind!! - it is better to eat, drink and be merry to reduce your savings rather than putting it into one of these trusts.

In addition, the goal posts keep moving when it comes to LA savings thresholds; and you have no idea whether you will ever need care - you might fall off your perch whilst out enjoying spending your savings - in which case you will have tied up your savings for no purpose.

I wonder what the situation is with these trusts when it comes to your children accessing the money as their inheritance?

Hi.
I am new to Gransnet. I came across it while looking on Age UK for advice about APT's.

Having now read this thread and looked at the posted link on "You and Yours" I have wrote and cancelled a "free home consultation" I had arranged with a company selling these APT's.

Thanks for saving me from what could have been a bad mistake.

I think I need to do further investigations before committing myself.

glamma I dont know, think it must have been a while ago as she mentioned that the waiting period was almost up, I presume by that she means the 6 months! She has now gone off on holiday for 2 weeks so I cant check anything until after that time.

glass do you know if they are out of the cooling off period and have they had independent financial advice,or have they been cold called at all.

That's what I thought Glass.

Oh jingle I have just listened to it, does not sound good, too late they have done it!!!!

this sounds as though it could backfire regarding choice of care home

Would this help at all Glass?

scroll down to chapter 6