A Personal Injury Trust is a legal mechanism that allows you to protect your compensation payment, (received following a personal injury or medical negligence claim) so that your compensation payment is disregarded when you are assessed for any means-tested benefits.
Having a personal injury trust enables you to legally maximise any welfare benefits or state funding that might be available to you.
Who can be appointed as my Trustees?
The choice of Trustee is an important one. This might be you, as the injured party, alongside a family member or friend. However, individuals frequently opt for professional Trustees, such as solicitors, to fulfil the role of Trustees.
Trustees must act in your best interests and apply funds for your benefit. There are also strict rules around how Trust monies can be spent to ensure that your access to state funding is preserved. Our in-house experts can guide you through this process.
Trust Bank Accounts, Tax Returns, & Investments
Your Trust funds must be kept in an account that is separate from your other money. We can help set up and manage Trust bank accounts, to ensure that your capital remains appropriately protected.
We can also help file Trust Tax Returns where required, and help implement investment strategies, where this is recommended.
Personal Injury Trust Services
- Preparation and drafting of Personal Injury Trust Deed;
- Advising on choice of Trustees;
- Setting up and managing Trust bank accounts;
- Acting as professional Trustees, including fund management, investment and the preparation of annual accounts;
- Preparation of Trust Tax Returns;
- Advising on the appointment and retirement of Trustees;
- Tailored welfare benefits review to ensure state funding is maximised to individual needs.