Hampshire: Coffin Mew warns on wealth investment scams

Leading regional law firm Coffin Mew has issued a warning following a sharp increase in wealth investment scams targeting people in Hampshire.

The firm has been made aware of a scam that involves negligent companies selling homeowners legal products that they do not need, such as ‘Family Protection Trusts’. Often the victim has unknowingly signed away the ownership of their home and paid thousands to do so.

Lindsay Taylor, a solicitor at Coffin Mew specialising in wills, trust and probate, explained: “These companies falsely advocate trusts as the best way to protect properties from care home fees and inheritance tax after death. They will set up a deed and transfer the property into the names of family members as trustees. We have even seen properties transferred into the names of the company directors.

“Clients approach us when they realise that they no longer own their home, for instance, when the sale of their house falls through due to the property being in a trust. Those affected have also found that they have lost the right to claim the rental income from their own properties.

“If you are considering legal work, assess carefully who you instruct to handle your legal affairs. A decision made in haste could cost you dear. A professional handling your affairs should not rush you into making any decision and should carefully explain to you the consequences, good and bad, of any legal action. Take professional advice from trusted individuals.”