Are you a client of Universal Wealth Preservation?

Posted on By Joanna Pegum
warning sign

STEP has received an unprecedented number of enquiries regarding Mr Steven Long and the companies of which he is a Director, namely Universal Tax Solutions of Dencora House, 34 White House Road, Ipswich, Suffolk, IP1 5LT, which traded as Universal Wealth Preservation. Associated companies include Universal Asset Protection Ltd and Universal Trustees Ltd.

Mr Steven Long, Mrs Melanie Long and Universal Trustees Ltd act as Professional Trustees. Universal assisted clients with drafting and managing trusts, wills and lasting powers of attorney (LPAs), as well as providing secure storage of original documents.

STEP suspended Mr Long’s membership on 1 November 2017, and he was permanently excluded on 5 October 2018, following the completion of the disciplinary investigation into a number of the complaints received.

Universal Asset Protection entered into compulsory liquidation in May 2018, with the business premises of Universal Wealth Preservation having closed several months previously. We do not know nor can we speculate why the business ceased trading.

Clients contacted STEP after they experienced great difficulties in contacting Universal, with no responses to emails, letters or phone calls.

We have been advised by clients that they have been concerned about the management of their trusts, with delays in estate administration and payments from the trusts being made, in addition to being unable to ascertain the whereabouts of their assets, or retrieve original wills and LPAs held in secure storage.

Universal clients now face the realistic prospect that they are unlikely to retrieve original documents or to recover cash assets.

STEP is aware that Suffolk Constabulary is now investigating, and has seized all documents that were held at Dencora House.

We understand from media reports in December 2018 that Steven Long was sentenced to a prison term for contempt of court for refusing to disclose the whereabouts of client assets. This is a civil matter and is not related to the investigation by the Eastern Region Special Operations unit. We understand that criminal investigations are still underway.

In October 2023, we became aware of media reports that two men had been charged by the police in relation to the collapse of Universal Wealth Management.

We understand that Steven Long, 56, of Onehouse, Stowmarket, was charged with three counts of fraud by abuse of position, contrary to section 1-4 of the Fraud Act 2006 and Ray Simpson, 72, of Miranda Do Corvo, Portugal, was charged with one count of the same offence.

Steven Long appeared before Westminster Magistrates’ Court on 8 November where he was charged with three counts of fraud. He did not enter a plea for any of these charges and his case was transferred to the Crown Court. He is due to appear in Southwark Crown Court on 6 December.

Ray Simpson was not able to attend Westminster Magistrate’s Court on November 8 on health grounds. His case was adjourned until 6 December.

What should you do now?

STEP is advising Universal clients to:

  • Seek independent legal advice from an experienced trust and estate practitioner on your options, which may include how to make an application to the courts to replace Mr and Mrs Long/Universal Asset Protection Ltd as trustees, making new wills and LPAs
  • Check whether Lasting or Enduring Powers of Attorney have been registered with the Office of the Public Guardian – call the OPG on 0300 456 0300
  • If not in possession of an original will, make a new one without delay. In situations where someone has already passed away, we understand that Probate Registries are aware of the situation with Universal and registrars will accept a Rule 54 application for a copy of the will to be used. In circumstances where the Universal directors are appointed as executors, registrars will accept a Section 116 application to appoint new executors.
  • Contact the Land Registry to ascertain in whose name your property is registered. Call the Land Registry on 0300 006 0411. We understand that the Land Registry is aware of the issues with Universal.
  • If appropriate, consider whether to make a report to Action Fraud quoting ‘Operation Ardent’
  • Many clients will require Universal Trustees Ltd to sign forms that release them as trustees. In such circumstances, clients’ legal representatives (solicitors and barristers) only can submit a written request for up-to-date contact details to be released to them. Such requests should be made via ardentenquiries@ersou.pnn.police.uk.
  • If concerned by marketing information received or direct approaches from other firms advising you to use their services, consider taking advice from Trading Standards/Citizens Advice Bureau.

STEP has produced an article on what to look for when choosing a trustee.

You can find a full Q&A on Universal here.

If you have any queries, please contact standards@step.org.

What do I do if I have concerns about the attorney or deputy managing my friend or relative’s affairs?

Posted on By Joanna Pegum
pensive woman

There a number of circumstances where you might become concerned about how someone else’s property and affairs, or health and welfare matters, are being managed on their behalf.

Sadly, there are a number of instances where a person has been taken advantage of by the person they have chosen, or who has been appointed, to manage their affairs once they lose capacity.

Abuse can be physical, financial, verbal or psychological. In the case of an attorney or deputy, the abuse is often of a financial nature. In these circumstances, there are a couple of options.

Report to the Office of the Public Guardian

The Office of the Public Guardian (OPG) is the agency in England and Wales responsible for supporting people who may lose capacity, or who have already lost capacity to make decisions for themselves.

In particular, alongside other public bodies, the OPG has a duty to safeguard any person who has had a deputy appointed by the Court of Protection, or who has appointed an attorney under an Enduring or Lasting Power of Attorney.

If informed of suspected abuse, the OPG may investigate the matter itself or refer it to another body for investigation. Certain forms of abuse may constitute a criminal offence, so if appropriate, you may also wish to alert the police or other services, such as the responsible local authority, of your concerns.

Relevant contact details and guidance can be found here.

Apply to the Court of Protection

If the OPG (or other services) is unable or unwilling to investigate or take action, but you consider that it would be in a person’s best interests for someone else to be appointed to look after their affairs, you may be able to apply to the Court for:

  • The partial or complete revocation of an Enduring or Lasting Power of Attorney, and replacement with a deputy;
  • The removal of a court-appointed deputy, and replacement with an alternative deputy;
  • The appointment of a joint deputy to work alongside an existing deputy; or
  • Directions as to how the attorney or deputy should exercise their powers.

Mark Lindley TEP is a Partner in the private client team at Boodle Hatfield LLP, specialising in disputes relating to wills, trusts and mental capacity

Powers of attorney in Scotland

Posted on By Joanna Pegum
golfers in Scotland

A power of attorney is a legal document appointing trusted persons (attorneys) to make decisions on your behalf. Provisions for powers of attorney vary across the UK. This article considers the options available in Scotland.

Why have a power of attorney?

While it is difficult to contemplate becoming unable to make your own make decisions, an estimated 100,000 Scottish adults have significantly impaired legal capacity. A power of attorney allows you to choose trusted family, friends or professional advisors to take care of your business and personal finances and your personal welfare should you become unable to do so yourself.

Types of powers of attorney

Continuing powers of attorney deal with your financial affairs, eg your bank accounts, investments and business interests. These documents ‘continue’ in force in the event that you become incapable and come into force once registered (see below).

Welfare powers of attorney only take effect if you become incapable as a result of mental incapacity. They empower your attorneys to make decisions regarding your personal welfare, for example where you will live, arrangements regarding your personal care and deciding which activities you should engage in.

Welfare attorneys can also be given the power to make decisions about medical treatment.

Most Scottish powers of attorney contain both types of powers and are referred to as ‘continuing and welfare powers of attorney’.

How to grant a continuing and welfare power of attorney

A solicitor can assist you to put in place a power of attorney. After reviewing a draft, you will need to meet with your solicitor or doctor to have the document signed. A certificate requires to be signed by the solicitor or doctor to confirm that you understand the terms of the document and are not being put under any pressure to sign it.

As your attorneys will be under various duties, your solicitor will contact your attorneys to confirm they are happy to act in this role. These duties are set out in the Office of the Public Guardian’s (OPG) Code of Conduct. The Public Guardian is an officer of the court who has certain supervisory functions.

Your power of attorney will then be sent to the OPG for registration. The registration process takes a number of weeks but can be fast tracked if necessary.

Choosing your attorneys

Your attorneys will have wide-ranging powers so it is important that you choose people you trust, who understand your needs. You may wish to consider appointing a professional attorney.

It is also possible to appoint substitute attorneys, who will act only if your principal attorney is unable to do so.

What happens if there is no power of attorney?

If a person loses capacity before granting a power of attorney, there are other legal mechanisms available to deal with decision making, eg applying to the court for a guardianship or intervention order. However, these procedures can be expensive, slow and cumbersome. Above all, they do not allow you to choose who will act on your behalf.

A power of attorney is therefore the simplest, cheapest and most flexible option.

Karen Oliver TEP is an Associate at Stronachs LLP in Aberdeen, Scotland, UK