176 FCA warns about Asset Protection Trusts
The FCA has issued a warning about the mismanagement of Asset Protection Trust Schemes. They’re concerned about the number of firms mis selling trusts on behalf of Trustees who don’t understand what they’re invested in or what benefits the trusts actually provide. Asset Protection Trusts are trusts into which you typically transfer assets, often including your home, during your lifetime. Some people fall victim to unscrupulous or unqualified advisers who suggest these trusts provide specific protection from Inheritance Tax or are a good place to shelter your assets from any liability for paying care fees. In this podcast episode, learn about the common traps people fall into when setting up Asset Protection Trusts, the genuine benefits they offer and reasons to consider one, and how to check whether your trust is suitable for you. USEFUL LINKS FCA’s ScamSmart website: https://www.fca.org.uk/scamsmart Society of Estate & Trust Practitioners: https://www.step.org/directory/members ✔️ Subscribe to my Channel here https://www.youtube.com/c/JustinKingMFP/?sub_confirmation=1 🎙️ Subscribe to The Retirement Café Podcast here https://podcasts.apple.com/gb/podcast/the-retirement-caf%C3%A9-podcast/id1441976448 CONNECT WITH ME Thanks for checking out my YouTube channel - I’m Chartered and Certified Financial Planner Justin King and I help people to retire successfully. 📘 Download my book, Ready, Steady, Retire: https://wb198-89a1ad.pages.infusionsoft.net/ https://www.theretirementcafe.co.uk/ 👉 Get my weekly newsletter: https://bit.ly/MFPnews 👉 MFP Wealth Management: https://www.mfpwealthmanagement.co.uk/ 👉 LinkedIn: https://www.linkedin.com/in/justinking-online-retirement-planner-ifa/ 👉 Twitter: https://twitter.com/JustinKingCFP This video is for information and entertainment only. Nothing on this channel constitutes financial advice. Please do not make any decisions based on the contents of my videos; seek professional independent financial advice first!