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. At the moment I offer a fixed fee of £480 including VAT for a bare trust. I … 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 is not a means-tested benefit. It is an adjustment to your earnings based on your income alone. So what protection is provided by a personal injury … 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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How much does it cost to set up a personal injury trust?

What is the charge or fee for preparing a personal injury trust? I charge a fixed fee of £400 plus VAT, that is £480 including VAT.

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