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Nash & Co are on hand to help if you have fallen victim to a Family Protection Trust

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Nash & Co are on hand to help if you have fallen victim to a Family Protection Trust

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Nash & Co Solicitors are the experts in digging clients out of a hole that McClure Solicitors left many of their own clients in. 

When McClure Solicitors went into administration in 2021, thousands of clients across the UK were left uncertain about what to do next. One of the biggest areas of concern are Family Protection Trusts, many of which were set up without clear advice, leaving people in difficult situations.

At Nash & Co Solicitors, we’ve been helping individuals and families untangle the issues that followed McClure’s closure. Associate Solicitor Amy Douch has supported many affected clients and explained how these situations often came about.

“Many people were drawn in by a ‘free will’ offer, often as part of a charity promotion,” said Amy. “But what they weren’t always told was that they’d be encouraged to set up a Family Protection Trust and that this would usually see their home move into the trust to try and protect it from future care fees.”

By the time McClure closed its doors, Jones Whyte Solicitors – the firm that took over custody of McClure’s documents – estimated that almost 19,000 of these trusts had been set up.

The problem with these trusts are rarely suitable for everyone, and in many cases, they come with serious tax consequences that weren’t properly explained at the time.

“Some clients are now facing unexpected tax bills,” Amy explained. “Most had no idea there would be a ten-year tax charge, and they weren’t told what that could mean for them down the line.”

Since 2021, Nash & Co have become highly experienced and respected nationally, for helping clients review, understand the implications of their Family Protection Trusts, and address the problems that these trusts have caused them. Every situation is different – and the best course of action depends on the individual’s family circumstances and finances.

Amy continued: “For some people, keeping the trust in place is the right decision. For others, there may be better options. We take the time to go through everything with them clearly, so people feel confident about their choices and they know what’s ahead for them.”

If you were affected by the closure of McClure Solicitors and need advice about a Family Protection Trust, you can get in touch with Nash & Co Solicitors via their listing on our website — or contact Amy Douch directly at This email address is being protected from spambots. You need JavaScript enabled to view it. (01752 827065). 

 

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