Revealed: How To Safeguard Your
Family From The Financially Destructive
Effects Of Long Term Care, Divorce,
Bankruptcy And Tax In Three Easy Steps
DISCOVER HOW THE RICH AND FAMOUS
GUARANTEE THEIR MONEY IS PROTECTED
THROUGH MANY GENERATIONS
USING PIECES OF PAPER
WARNING: Your Children Could Lose Out!
PROBLEM YOU COULD SEE MORE THAN HALF YOUR HARD-EARNED MONEY DISAPPEAR IN TAX The Taxman may pocket more of your money than your children.
PROBLEM YOUR CHILDREN AND GRANDCHILDREN COULD BE LEGALLY DEPRIVED OF YOUR MONEY It can disappear overnight if people you leave it to remarry, divorce or go bankrupt.
PROBLEM YOUR HOME COULD BE SOLD TO PAY FOR LONG TERM CARE The State can put a charge on your home depriving your children of their inheritance.
Hi
I'm Brian Bennis. I've been a financial adviser for 30 years. In that time, I've owned and run a successful group of financial services companies with a multi-million pound turnover. I'm just an average guy, yet I've been affected by most of the problems I've highlighted above.
With my years of experience, I'll show you how these problems can all be avoided, literally with pieces of paper. I want to share my knowledge with you, so you and your children don't lose out. More importantly, I'll show you how to get these pieces of paper for a fraction of their normal cost. Here's my story.
I got married for the second time in August 2009. And on that happy day, the State politely stepped in and cancelled my existing Will. That's the rule. It means the Government can now decide who gets my money, how much tax to take and who cares for my younger daughter Rebecca, who's 15.
If I hadn't done something about it quickly, it could have been catastrophic for my family. Given the mess the Government has made managing the economy in recent years, the very last thing I want to happen is for it to have total control over decisions to do with my family and who can receive my money.
I didn't just get a Will for my family
I did a much better job than that
A Will is a single piece of paper for a specific moment in time. The day you die. What I've done is 'fully comprehensive', protecting my family from today, through the day I die and beyond for 80 years.
If you haven't made a Will, your children could be very exposed. By the end of this report, you'll know how to put this right.
If you've made a Will, does it look like this?
My wife's Will is the same, leaving everything she owns to me
and then to our children."
It's logical, it describes what most people want and as a result, it's the most popular set of words. But it can be terrible from a tax viewpoint and it could cost your children an absolute fortune in the long run. Worse still, it can leave your money under considerable risk of attack.
What's amazing is that many of the Wills produced by online Will writers and those prepared by firms of solicitors are written on this basis. Not to mention the free Wills you can buy in Smiths and other stationers. Quite frankly, the vast majority of them are not worth the paper they're written on. They're totally useless if you want to pass your money to your children and then your grandchildren, without it coming under threat.
TIP: IF YOU HAVE A WILL LIKE THIS, YOU SHOULD REPLACE IT WITH PIECES OF PAPER LIKE MINE THAT'LL DO A PROPER JOB FOR YOUR CHILDREN.
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SHOCK: You could lose your home
if you need long term care
This is very much in the news. All political parties have different ways of dealing with it. But in each case, it's pretty clear they'd like you to pay some or all of the cost of your care. At one level, it's reasonable. But when you think about the fortune you've given to the State in Income Tax and National Insurance Contributions over the years and how hard you've worked to build up things to pass onto your children, it seems harsh you have to sacrifice them to pay for your care. Surely, in part, that's what the welfare state is about?
The fact is this. If you have nothing, the State looks after you. It seems to me the State is hell bent on getting you to that position, stripping you of your home and your money before it coughs up any cash. I know this from personal experience.
My dad lived in a sheltered retirement flat in Hove for 10 years. Living on his own was all getting a bit too much for him, so he decided to move into a residential care home. He was told he'd be eligible to some help towards the fees from the State. But when it came to it, that help only kicked in once his capital had reduced to £23,000. At current fee levels, the value in his flat would be gone in less than three years. He worked hard all his life and he hoped to pass on money to his family and to the charities he'd always supported. But when he slipped away, there wasn't much left.
It's as if history was repeating itself. 30 years earlier, his mum, my grandmother needed nursing. The home she struggled all her life to provide was sold when she went into care and the last remaining value within it disappeared almost as she drew her last breath. A whole life's work and absolutely nothing to show for it.
It hit me like a sledgehammer. I was doing nothing different. The home I own with my new wife, Terry, was just as much at risk as my dad's flat, and his mum's house before him.
You see, when Terry and I bought our home in joint names, our solicitor arranged the ownership of it on a joint basis. He asked us what we'd like to happen to it should one of us come to an untimely end. We replied we'd like it to go to the other. The fact is the vast majority of homes bought by married couples or civil partners in the UK are arranged on this basis, with the whole of the property automatically passing to the survivor when the first person toddles off to meet their maker.
When I started to dig deeper, it turns out each of us owns 100% of the property. Now that really threw me. I did fine in maths at school. I'd worked all my life with numbers. But it took me ages to get my head around the concept that two people can each own 100% of a home. Until this point, I thought two lots of 100% was 200%. But not, it seems, in the case of joint ownership. Each person owns the whole property, and that's why it automatically passes entirely to the survivor when the first person dies.
I knew a home could be owned jointly in two different ways. But what I didn't appreciate is the massive advantage of holding our home the other way. The other way is how my friends Mark and Anthony bought their home when they were students at university. It means Mark owns a share of the home and Anthony own the balance. If Mark should die, Anthony doesn't automatically receive Mark's share. And that crucial difference holds the key. What's more, putting this safeguard in place is incredibly easy.
Pieces of paper will prevent your home
being sacrificed to pay for long term care
You're probably thinking it can't be that simple. Well, let me tell you, it is. I've no doubt you've already guessed what the first piece of paper does. It changes the ownership of the property. And that's what we've done now. I own my share of our house and Terry owns her share.
When I die, you'd expect me to leave my share to Terry. But I won't. You see, if Terry owns all the property and needs long term care, when the State comes sniffing, it'll have no trouble forcing her to cover the full cost of her fees until almost all of the value within the home has gone. And neither of us wants that, as we'd prefer the money to go to our children.
My share of the property is going to someone else. Actually, it's not a someone. It's a thing. If you like, it's a box. A Treasure Chest. A Trust.
Oh dear! When I started writing this article, I told myself I'd avoid using jargon and industry terms. But I've gone and broken my promise by telling you I'm going to leave my share of our home to a Trust. Actually, there are many types of Trust but what's really important is not what it is, but what it can do.
I'd like to dispel three myths about Trusts
1. They're not just for the rich and famous
Anyone can have a Trust. In fact, if your employer provides you with a pension or life cover, chances are you already have an interest in a Trust.
2. They're not new
I was staggered to learn they first appeared in the UK nearly 1,000 years ago and for that reason, they're very well understood by the Government and The Taxman. Most importantly, they work, without challenge. What I'm about to reveal is not some swanky new loophole that's about to be closed. They work and they've been around for centuries.
3. They don't cost a fortune to set up or maintain
What's even better is they can save you thousands and thousands of pounds.
In reality, a Trust really is no more than a piece of paper with a load of legal words on it. But I quite like the analogy of a Treasure Chest, so from now on, I'll use that.
My treasure chest will
do a fantastic job for my family
Imagine for a moment I died last night. My share of our home is now in my Treasure Chest. So our home is now owned half by Terry. And half by my Treasure Chest.
I love Terry and I want her to enjoy living in our home, so I've ensured one of the rules of my Treasure Chest is that Terry can live in our home for the rest of her life.
What's more, now the right pieces of paper in place, my Treasure Chest has no detrimental effect whatsoever. Terry can borrow against the property, sell it and indeed buy a new property, either of the same value or a different value. It's exactly as if she owned the whole property herself.
Let's roll forward a few years. Terry sadly becomes unable to look after herself and needs to go into care. When fees are discussed, up rears the State, with a knowing smile on its face. It asks Terry about what she owns. When it comes to her home, she says she only owns part of it, with the other part owned by my Treasure Chest. That knowing smile quickly disappears. And that's because the State is unable to take into account the value of a partly owned home. Here's why.
If we were both retired, the State wouldn't force Terry out of our home if I needed long term care. And the same applies when my Treasure Chest is involved. Terry's share of the property is deemed to have no value because there's another part owner who cannot be evicted. As a result, Terry's share is effectively ignored when the State assesses her right to claim care home fees. It means all the value in our home is safe for our children.
TIP: DON'T OWN YOUR HOME JOINTLY SO YOUR BIT AUTOMATICALLY PASSES TO THE OTHER PERSON. JUST OWN YOUR BIT. THEN CREATE TREASURE CHESTS TO PROTECT ITS VALUE FOR YOUR CHILDREN.
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If you're not sure how you own your home, call me on 01403 274323 and I'll show you how to find out. Above all, if you have equity in your home worth more than £23,000, you need to address this TODAY! SO CALL ME ANYWAY!
SHOCK: You could pay a huge
amount of Tax after your time is up
It's often said Inheritance Tax is a cruel tax. You work hard all your life, and along the way, you pay many types of taxes and other charges on your income and savings. Then, the day you arrive at the Pearly Gates, The Taxman emerges for what could be his largest take yet.
Inheritance Tax is currently charged at 40%, which means almost half the value of everything you've built up during your life could go to The Taxman. That's harsh to say the least.
When I thought about it, something rather shocking struck me. I have a £150,000 life assurance policy for my two girls, Victoria and Rebecca. If I should find myself six feet under, I'd anticipated they'd each receive £75,000. But that won't happen. When I die, because of the way it was set up and because of my other money, the first £60,000 of the life cover will go to your friend and mine, Mr Taxman. Incredibly, he's the largest beneficiary of my policy. After he's plundered the proceeds, my girls will each receive only £45,000. What's more, it dawned on me I'm paying premiums for life cover for The Taxman's benefit.
Imagine how I felt. Are you doing the same?
Cutting out The Taxman is all
about having the correct pieces of paper
It's so simple, it's almost a joke. For my life assurance, using one piece of paper, I can completely write The Taxman out of my children's protection. It's just like the Treasure Chest I revealed earlier, but this piece of paper is specifically designed for life assurance. And in my case, the piece of paper is literally worth £60,000!
On Dragons Den, Theo Paphitis often talks about 'my children's inheritance'. Well, I've protected £60,000 of my children's inheritance with no more than a signature on a piece of paper.
Job done!
SHOCK: Your money could haemorrhage
out of your family's hands after you've gone
Sadly, life throws up some unfortunate consequences that can deplete your money in an instant. Look at these five situations. You're bound to know people who've been affected by at least one or more of them.
WARNING YOUR MONEY MAY NOT EVEN GET TO YOUR CHILDREN
Although we've only just got married, no-one knows what's round the corner. If I should unexpectedly lose my life, I'd want Terry to consider marriage again if the right person comes along. But it could have a significant effect on our children's finances. You see, if I leave Terry my money, which would happen in most standard Wills, her new husband could be entitled to half our joint Estate. That's money that would otherwise have gone to our nearest and dearest. It's not what either of us have in mind.
WARNING YOUR MONEY CAN BE FRITTERED AWAY IN AN INSTANT
As you've seen above, most Wills leave money directly to children after their parents are no longer around. It seems like the right thing to do, but we're putting huge temptation in our children's hands. Heaven forbid they fall in with the wrong crowd, for having access to large sums of cash could be disastrous. We've all seen the damaging effect on some young celebrities who are exposed to big money. It might provide some short term pleasure. But the consequences don't bear thinking about if it all goes wrong.
WARNING MONEY CAN VANISH WITH THE BREAK-UP OF A MARRIAGE
Both Terry and I have been married before and with one in three marriages now ending in divorce, it could happen to any of our children too. We hope they'll all get married and will go on to produce some lovely grandchildren for us. But things don't always go to plan. Should one of them marry a wrong'un, half the money they'll have inherited from us is at risk of disappearing when the marriage dissolves. We'd be devastated enough at the divorce, let alone to think money we'd have wanted to go to our grandchildren will have vanished into thin air.
WARNING MONEY CAN SEIZED BY THE COURT IF A BUSINESS FAILS
We'd be delighted if money we leave our children helps them improve their lives. Maybe they'll start a business. And therein lies a risk. You see, if it fails, which in today's tricky economic climate is a possibility, 100% of the money we leave them is at risk of seizure by the bankruptcy court. All our hard work, gone.
WARNING GUESS WHO'S LURKING IN THE SHADOWS?
Yep, The Taxman. You see, one of the biggest reasons why Inheritance Tax is regarded by those in the know as a cruel tax, is that the good old Taxman gets a second bite at the cherry. And if you let him, a third, fourth and fifth bite too. It's most likely our Estates will suffer inheritance tax at 40%. And when our money is added to our children's when they go, it could be hit again for another 40%. It's tax on tax. And it keeps on going through the generations. When you do the sums, our money might actually suffer a true tax rate of 50%, 60% or more. It's outrageous!
These dangers disappear
with appropriate pieces of paper
All it takes are similar types of Treasure Chests to those for life assurance and for property. And that's why we now have them for our family. They provide all the safeguards we require and protection against tax too.
You see, the principle is pretty much the same, no matter what you own. Instead of giving your possessions to real people when you die, you pop them into Treasure Chests designed specifically for the purpose, whether it be property, life assurance, pension funds, employer life cover or business assets.
And if you happen to own any of those items on a joint basis with someone else, make sure you split them up first. With a property, it's relatively easy. Just one piece of paper does it as you've already seen.
When it comes to life assurance, it's a little more tricky. Most mortgage protection and family cover is arranged on a joint basis. It's often the sort that pays out the cover to the survivor when the first one goes. Unfortunately, you can't split the ownership of a joint life policy with a magical piece of paper.
By now, I'm sure you can work out holding your life cover on a joint basis isn't best. The money is added to the Estate of the survivor, which could top up The Taxman's coffers when the survivor dies. What's more, all control of the money is lost if the people you leave it to have immediate access to the cash.
Splitting the ownership often means cancelling your joint life cover plans and replacing them with two single policies. Happily, the cost of two single plans is rarely much more than the cost of one joint plan, and having two policies instead of one gives you double the cover. However, cancelling your joint plan isn't an automatic decision and you should take advice, because you could lose some useful benefits when you cash it in especially if your health has declined, and that may not be in your best interest.
Keeping control of your things
from beyond the grave may sound creepy
It may even sound impossible. But it can be done. You see, once your treasured possessions are properly safeguarded in their own little boxes, you pass control to people you trust. That's why they're called Trusts!
These people are usually those closest to you. Obviously your spouse or partner. Maybe your children. Perhaps your best friend. Their job is simple. To look after the money for you.
Take my situation. When I'm no longer around, the person who I trust the most to look after my possessions is my wife. After all, she already lives in our house and owns half of it. So it's logical she should control my Treasure Chests, which contain the other share of our home.
When I die, some of my Treasure Chests will have money put into them from my life assurance and pension funds. Money that can be given outright to people I've nominated. My Treasure Chest can also retain the money, paying out just the interest earned on it, so the capital remains intact for future generations. In some cases, money may be loaned. I really like this option.
Let's say my Treasure Chest loans Terry £50,000 to improve the house. After she's gone, her Estate has to repay all its loans before The Taxman can get his grubby little mitts on the money. One of the debts is that loan to my Treasure Chest. On repaying the loan, Terry's Estate is reduced and if it falls below her allowance, The Taxman won't receive a bean. What's more, the money is put back into my box for our children to benefit. It's fantastic.
Obviously, Terry won't be around forever, and if she's unable to make decisions because she's gone to a better place, I'll need someone else to take over the reins. For that reason, I've arranged for a few people to stand as reserves, people I trust to ensure our family is properly looked after. In case they need assistance, I've included a specialist who can provide Terry and anyone else with help if they need it, but they'll only be paid if they're actually called upon to do some work.
Since I've put my 'own house in order' so to speak, I feel incredibly relieved my lifetime efforts won't be wasted and will now go to my family, not just for one generation, but for many. It's a wonderful feeling of harmony I'd really like you to experience. And with that in mind, and particularly to avoid legal jargon, I've come up with a name for all the pieces of paper you'll need.
SOLUTION: The Family Peace of Mind Plan™
I'd be delighted to help you get one. It's not something you can buy off the shelf, like a standard Will which says "Me to You then the Kids". You know why that's seriously flawed.
The Family Peace of Mind Plan™ is different for every one of us. That's because each us has different things we own and different wishes for them. Your Family Peace of Mind Plan™ is made up of exactly the right pieces of paper you need to do a proper job for you. Putting your money, in the right hands, at the right time.
Until now, you'd have had to go to a lawyer and you know what they can charge. Over the years, clients have told me they've spent many thousands of pounds on such legal documents. In our case, we would have received a bill for at least £6,500. Mind you, considering the 'potential' Inheritance Tax saving alone could be well over £100,000 in time, it would have been money well spent. That's the argument lawyers have always used to justify the extortionate price tag. But it doesn't wash with me!
70% DISCOUNT:
Get yours for a fraction of a lawyer's price
Our Family Peace of Mind Plan™ was written by a specialist legal services company. Experts who know their way around and whose sole aim is to help people protect what they've got for those they love the most. To ensure they do a brilliant job, they have solicitors and barristers as part of their team.
When I told them I'd like to share this knowledge with the thousands of people I've helped over the years, they said they'd offer me and anyone I introduce a very special discount. A 70% discount to a lawyer's rate. As a result, we didn't spend £6,500. We sorted out our pieces of paper for around £2,000. And you can enjoy a similar discount.
Because your Family Peace of Mind Plan™ is unique to you, it's impossible to provide you with a definitive price until your situation is fully known and what you'd like to achieve. That said, as a rough guide, it should cost you roughly £1,000 to £2,000 depending on how many pieces of paper are involved. But one thing I can absolutely guarantee is you won't pay a single penny until you know exactly what you're going to get for your money and what the pieces of paper will do for you.
TIP: IF YOU CAN'T AFFORD AROUND £1,000 TO £2,000, TALK TO YOUR CHILDREN. AFTER ALL, THEY'RE THE BENEFICIARIES AND IT'S A SMALL PRICE FOR THEM TO PAY TO SECURE WHAT MIGHT BE A SIGNIFICANT INHERITANCE.
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I can honestly say it's worth every single penny for the reassurance it provides. I'm so passionate about this, I'm putting 'my money where my mouth is'. Not only am I going to help you get your Family Peace of Mind Plan™ with a 70% discount, I'm also going to give you these three valuable bonuses worth £860...
VALUABLE BONUS 1 ONE HOUR OF MY TIME - WORTH £500
To qualify for your 70% discount, I've agreed with the legal services company I'll personally explain to you how pieces of paper can help you achieve exactly what you'd want for yourself and your family. My time is normally charged at £500 per hour but your consultation with me will be free.
VALUABLE BONUS 2 £300 CASHBACK
When you receive the actual pieces of paper for your Family Peace of Mind Plan™, you'll also receive a voucher for £300 cashback. I have two reasons for being so generous. The first is to ensure you really do pay a staggeringly good price compared to what law firms charge. The second, in reality, is for me and the legal services company. You see, your pieces of paper only become valuable to you and your family when they're signed. If they're not correctly completed, it's conceivable the people who might have benefited from your money could sue us for not doing a proper job. Now we really don't want that. So to incentivise you to sign the papers, when you return them to me, I'll do three things for you...
1. Check your pieces of papers are properly signed to make them legal giving you the peace of mind you seek
2. Send you a cheque for £300 by return
3. Pop them into a safe storage facility, unless you want to hold them yourself, and that leads to my third valuable bonus...
VALUABLE BONUS 3 THREE YEAR'S FREE STORAGE - WORTH £60
These pieces of paper are without doubt some of the most valuable items you'll own. Quite simply, if they're lost, your protection is worthless. So it's vital they're held securely. If they're ruined in a fire, stolen or damaged in any way, they simply won't do the job for which they've been created. I would strongly recommend you place your Family Peace of Mind Plan™ in the safe storage facility of the legal services company, alongside thousands of other securely held documents. To prove my commitment to this, I'll give you three years free storage with your plan. So you can see what's safely held, you'll receive a copy of all of the pieces of paper. And whenever you want the originals back, they're just a phonecall away.
RISK FREE: I want you to be happy so I'll
give you a 100% full money back guarantee
To be honest, I'm taking a bit of a flyer with this. That's because by giving you the actual pieces of papers that make up your Family Peace of Mind Plan™, I'm going to have to pay the legal services company. If I refund your money back, I'll be out of pocket. But it's a risk I'm willing to take, because I want you to be thrilled with what this can do for you and I don't want you to have any reason not to go for it. It'll mean I'll only make a profit if you're happy. And if you are, then we'll both be very satisfied.
For total reassurance
here's your ultimate opt-out
All these pieces of paper are created now, during your lifetime, but they don't take effect until the day you pass on. And that's crucial for this vital reason.
As a young financial adviser in 1984, I was talking to a couple about the ways to save 'death duties'. One of the most obvious things to do is give your worldly goods away during your life. As soon as I mentioned this, to my great surprise, the wife nearly hit me. She was a French lady and she said similar rules applied in France. Her brother had recently persuaded their mum to give her lovely Parisian flat to him to save tax, and he promptly evicted her, sold it and pocketed the cash. The wife was furious I could even suggest them giving anything away.
Needless to say, I've been very cautious about this ever since. So it was with great relief to learn that none of the pieces of paper I've revealed in this report require you to give away any of your current things during your life. It all happens the moment you go to your final resting place through the simplest of Wills which says no more than "when I die, fill my Treasure Chests". OK, it's a little more wordy than that, but in reality, that's all there is to it.
As none of us knows when our time is up, it's vital you create your Treasure Chests now. And because there's nothing in the boxes other than a small deposit to open them, they can be cancelled at any time and you can have your money back. What's more, if you've split the ownership of your home, you can change it back to each of you owning 100% of it, if you wish. It'll be as if you'd never taken out the Family Peace of Mind Plan™, but it goes without saying that in cancelling your arrangements, you'll lose all the reassurance and safeguards the plan provides. But if you want to do it, you really can.
It only takes three easy steps
Within a few short weeks, it's done and dusted.
STEP 1 COMPLETE A SHORT FORM
Following our conversation, you'll summarise your current financial position, indicating who you'd like to benefit when you die. Within a week, you'll get a short description of the pieces of paper you'll need and what they'll cost.
STEP 2 MAKE YOUR PAYMENT
Within a couple of weeks, you'll be sent the actual pieces of paper and if they're not what you want, you have the reassurance of the 100% money back guarantee.
STEP 3 SIGN AND RETURN YOUR PIECES OF PAPER
They'll be checked to see they're completed correctly, they'll be stored safely and you'll be sent a copy of them with a cheque for £300.
Please don't say
"It sounds great, I must get around to it"
I cannot stress strongly enough you just don't know what's around the corner.
You know, I was less than 24 hours away from being unable to write this report. On 6 July 2005, I was in London at a meeting. On that day, so many people were dancing in the streets. London had just won the 2012 Olympic bid and it was wonderful to be in the city to share the excitement. Little did I know that 24 hours later, the very same spot on which I stood was hit by one of the London bombs. 52 people lost their lives that day, totally unexpectedly. I wonder how many of these families have been further affected by not having proper pieces of paper in place.
Whether you're one of the millions of people who haven't got round to making a Will or whether you've made a Will and you'd like me to check it's going to do what you think it's going to do, please complete the fields below and I'll be in touch with you.
Please, please do it today.
Brian Bennis
Protect your family NOW
PS Complete the form now to claim your valuable bonuses worth £860 to encourage you get your very own Family Peace of Mind Plan™ at a 70% discount to provide reassurance for your family, just like I've done for mine. I can't promise I'll keep these bonuses available for long, so please take advantage of them while they're on offer.
PPS It won't surprise you to learn that many people have already arranged conversations with me to properly protect their family. To avoid a long delay securing peace of mind for your family, please call me as soon as possible, before others book my time. Currently, I'm booked up three weeks in advance, so please allow for this in your plans.
Figures quoted in this report relate to the 2009/2010 tax year. The pieces of paper that make up your Family Peace of Mind Plan™ are provided by Countrywide Legal Services Limited. The Financial Services Authority does not regulate Wills and Trusts.