Category Archives: Personal injury trust

Personal injury trusts ring fence personal injury compensation from the financial assessment when claiming means tested benefits and local authority care

Personal injury trusts and how I can help

Personal injury trusts – how I can help My aim is to help you decide if a personal injury trust is right for you. I deal with most clients by telephone, email and letter and a meeting is rarely necessary. … Continue reading

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I may need a personal injury trust

I have been told I may need a personal injury trust by my personal injury solicitor A personal injury trust is the only legitimate way to hold compensation and still receive state means-tested benefits. A personal injury trust is an … Continue reading

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Personal injury trust

You can keep your compensation and still claim means-tested benefits if your compensation is protected by a personal injury trust. Personal injury trust or special needs trust or compensation protection trust and protection of State means-tested benefits. All names used … Continue reading

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What personal injury payments can be protected by a personal injury trust?

A personal injury trust can protect most payments made in consequence of a personal injury The regulations which govern entitlement to means-tested benefits tell us what sums are taken into account and which are ignored. Among those ignored are “Any … Continue reading

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52 weeks to create a personal injury trust?

Is there a time limit of 52 weeks for setting up a personal injury trust? There is no time limit within which a trust to protect compensation must be set up. The best approach is to set up a trust … Continue reading

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I have received personal injury compensation and I claim means-tested benefits

Receiving means-tested benefits depends on the money held by you and those included in your claim. The usual barrier to a claim is holding £16,000, but if you hold more than £6,000 your benefit entitlement is reduced. When you receive … Continue reading

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I do not claim benefits so do I need a personal injury trust?

I received a call from a lady who had just received a cheque for £20,000 compensation from a personal injury claim. Neither she nor anyone in her family were claiming means-tested benefits; but she intended to save the money for … Continue reading

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How to set up a personal injury trust

Setting up a personal injury trust does not have to be complicated or expensive. I will offer a fixed fee in most cases. I have set out all the points to think about and the information I will need to … Continue reading

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Personal injury trusts and the cost of long term care

A personal injury trust can be a very good idea even if you are not receiving State means-tested benefits or local authority care. You must consider your situation today,  your situation in the future, and do exactly the same for … Continue reading

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Best bank or building society account for personal injury trust

To create a trust for personal injury compensation you need a trust deed. This is a legal document which creates the trust and appoints your trustees. Once your trust document is complete the next step is for the trustees to … Continue reading

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Personal injury trusts and working tax credits

Most means tests for benefits look at your capital and income. Working tax credits looks at your income alone, so what protection is provided by a personal injury trust? I was asked a question by a man confused by the … Continue reading

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Compensation protection trust

Compensation protection trust Compensation protection trust is one of the names given to a trust designed to ensure that personal injury compensation is not taken into account if you claim means-tested benefits or need local authority support for residential care. … Continue reading

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Pros and cons of setting up a personal injury trust

To help you make your decision I have set out the pros and cons of setting up a personal injury trust. For this comparison I will deal only with a bare trust. Pros: Compensation ignored when assessing your entitlement to … Continue reading

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Protect Armed Forces Compensation Scheme payments with a trust

Compensation received under the Armed Forces Compensation Scheme can reduce or stop entitlement to means-tested benefits. The answer is to set up a trust for what is personal injury compensation.

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Who must I tell about my personal injury trust?

If you have received compensation for personal injury you must inform the agencies handling your claim for means-tested benefits. It is the change in your financial circumstances which makes notice necessary. If I prepare a trust for you I will inform … Continue reading

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Why aren’t there more personal injury trusts?

You can see from the questions I am asked there is a shortage of clear advice about compensation protection trusts, or personal injury trusts as they are better known. The banks and building societies often lack experience of opening accounts … Continue reading

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A message for solicitors on personal injury trusts

Mark Thompson explains how to properly protect a claimant’s compensation Your client is currently in receipt of means-tested benefits and is to receive an interim payment of £5,000. What should you advise? Some might say that £5,000 is below the … Continue reading

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