Personal Injury & Compensation Protection Trusts
If you are in receipt of personal injury compensation you may wish to consider setting up a trust to protect your compensation fund money from being taken into consideration for means tested benefits.
By placing your award in a trust, it will be disregarded in any further financial assessments for means tested benefits which in turn allows you to retain your benefits and all other passport benefits.
Typically you would appoint two trustees over 18 to manage the trust, one of which can be yourself and you may ask a professional to act if you prefer. The trust is set up by signing a trust deed appointing trustees and passing the funds into a trust account. The funds can then be utilised by you and your trustees to make purchases on your behalf.
Our expert team will be happy to provide you with further advice relevant to your circumstances.
If you would like to discuss any of these issues with our specialist team please call 01772 258321