Questions and Answers
Is this legal? YES. Our wealth strategy partners have been advising on and implementing these structures for over 15 years using Statue Law, Trust Law and Pension Law to enable the structures to meet their objectives.
Have other clients done it? YES – many. And all have enjoyed the benefits advised. Lifetime Financial Therapy Ltd can provide a list of referees.
Can I get a Counsel’s Opinion? YES – if you are prepared to pay for it. Counsel will very often, defer to the expertise of the author of 5 leading textbooks on tax and commercial trusts.
What is included in ‘capital assets’? Anything which is not trading stock.
Can I put cash into the Trust? YES.
Do I have to change the mortgages? NO.
Who chooses the Trustees? YOU CHOOSE.
Do you act as Trustees? Independent Professional Trustees will be appointed.
Where are the Trustees? We would recommend Jersey, Guernsey or Belize.
What are the Trustee fees? Expect to negotiate around £2,500 annually on a trust fund value of £1 million.
Can I change the Trustees? YES, anytime.
Can I be the Trustee? No but your wealth can be brought onshore and managed tax free by you as shareholder and director of your own personal management company. You control the cheque book.
Will you help my accountant? YES, our wealth strategist partners always work with the Company’s accountants to assist making complete disclosure.
What if the relevant legislation changes? It will be the first time in over a decade. Our wealth strategist’s ongoing advisory service charge covers this also. Only if it went to Court would you have to pay Counsel, but such costs are guaranteed by our wealth strategist’s P.I. insurance. We can provide a copy of the relevant PI documentation in place. EU law precludes retrospective legislation. The benefits up to that date remain protected. UK legislation cannot affect offshore trusts.
Are you guaranteeing the Plan? In the event of error in the Plan or the implementation of advice provided by our wealth strategy partner all fees up to £2 million for each case are repayable under their professional indemnity insurance policy. The wealth strategy firm who provide the advice and implement the arrangements are bound to provide their best advice. If they consider that the Plan cannot work in your circumstances, they will say so. Otherwise, they will be giving you legal advice that the Plan has the legal and tax effects set out in their detailed written advice. You are entitled to sue the wealth strategy firm if they are negligent and to recover all Plan fees and Legal fees.
Why doesn’t everyone do this? New clients come through personal recommendation, not general advertising. Therefore the exposure of the advice available is limited.
My current advisor doesn’t like it. That is not unusual. Our wealth strategist partners always ask a dissident advisor to engage in open discussion with them, in front of the client.
It sounds too good to be true. Our wealth strategy partners have heard that from new clients for over fifteen years. Their experience teaches them that it is just as good as it sounds. Many clients subsequently introduce friends and associates to these structures.