If you receive compensation for a personal injury, it can often cut your means-tested benefits. That may cost you a lot more than you think and the reduction of benefits can also stop other free services such as free prescriptions.
Even if you do not receive means-tested benefits now you might want to protect your compensation from the growing cost of long-term care in the future.
By setting up a personal injury trust - arising when your compensation award is put under the control of trustees – the trustees must look after your compensation (the trust fund) for the benefit of you while you are alive, and for any other persons you choose. This means that your compensation may continue to provide help for longer, making you financially better off.
We offer expert guidance on the merits of using a trust to receive a personal injury compensation. Our team of trust lawyers will draft the trust documentation and a member of the trust administration team will work with the trustees to ensure the smooth day-to-day running of the trust. We can deal with all compliance requirements with HM Revenue & Customs on behalf of the trustees.