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. I will:

  • Help you decide if a trust for your compensation is right for you.
  • Agree a fixed fee so you know the cost – £480 including VAT.
  • Gather information and documents.
  • Prepare a trust deed.
  • Guide you through signature and witnessing.
  • Guide you in opening a bank or building society account for the trust.
  • Give notice to the agencies handling your benefits claim.

You really have helped us as we had absolutely no idea what we had to do and you have not only made it easy but removed a very very large amount of worry and made us feel better and that things have been dealt with correctly.

I hope you will find me to be flexible as I know you have other calls on your time. I am willing to talk out of office hours and I know many people can only email in the evening or at weekends.

Once I have the information I need I will send you a draft trust within a couple of days. Once agreed I will send the trust document to you by post and once signed you can set up your bank or building society account. I think it best you set up the account locally as the account should be run with only a cheque book so you will need the support of a local branch.

To help you decide if a trust is necessary if you do not claim benefits please click here and if you do claim benefits please click here.

For the points you must consider in setting up a trust and the information I will need please click here.

For help without obligation please call 0330 223 1708.

About Mark Thompson

Personal injury and accident specialist solicitor

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15 Responses to Personal injury trusts and how I can help

  1. Dave says:

    Hi mark
    In regards to a trust fund, is there any special steps to be concidered when setting out a will?
    Thanks
    Dave

    • Mark Thompson says:

      I will answer only for bare trusts, which are the most usual trust for personal injury compensation.
      A trust identifies the beneficiaries, including who is to benefit from the fund when the person who set up the fund dies. I usually advise that any trust fund remaining at death should be dealt with under the provisions of a will. A will can be changed, so there is more flexibility.
      The trust fund simply forms part of the money and property left by the person who has died, known as their estate, and is dealt with as part of the estate.

  2. john leadbeater says:

    Hi mark, it’s looking like my wife may get some criminal injuries compensation for historic sexual abuse, we have debts to pay off with some of the money so where do we stand on claiming benefits and opening a trust.

    thank’s john

    • Mark Thompson says:

      Set up a trust first and pay the compensation into a bank or building society account set up specifically for the trust. The debts can then be paid from the trust. You will avoid squabbles with benefit agencies if you do things in that order.

  3. In 2008 I opened a PI trust fund £16,000. I bought a car £6,000. Wold like to replace some of this money from my current account. Is this OK……….Regards George Shepherd

    • Mark Thompson says:

      Absolutely NOT. It is only personal injury compensation in a trust which is ignored for benefit purposes. In addition, your trust will probably be written to receive only personal injury compensation, so you cannot spend some of heh compensation and then top it up with money which is not compensation.

  4. Mr B A J says:

    Hi. I am on esa and housing benifit and child’s tax credit. In 2014 I had a accident and it is looking like I an going to get above 2500. But I also had a accident in September this year and that has been settled for 4500. This means I could have around 7000. Now 2700 of the secords claim is for the bike that was written off. Can I put 1000 into a junior isa to bring me below the 6000 so I don’t get penalised ?

  5. George Robertson says:

    Hi Mark,
    Just wanted to say thank you for your very clear explanation of this matter. I work in a housing support sevice and a young person we support is due a Personal Injury Payment, and is receiving means tested benefits. Your site here has been the clearest explanation of this that I have found so far, and hopefully I’ll be able to explain this in a way the young person can understand. Thank you very much.

  6. medhat says:

    I am on benefits H.B, ESA AND PIP . i HAVE wife and 3 kids. I got 150k from personal injury compensation December 2115 . but I got interim payment £5000 in first September 2014 over a year ago.and i didn’t setup the personal injury trusts until now .
    can i setup personal injury trust now? and the benefits will be the same not affected ?

    • Mark Thompson says:

      You can set up a trust now as there is no time limit for setting up a trust.
      The only problem caused by not setting up a trust immediately is that the money you received and spent before the trust was set up forms part of your personal money and its use can be assessed by the benefit agencies. Expenditure from a trust is not subject to that same analysis, but expenditure from your personal accounts is. It is for this reason I do not advise people to rely on the 52 week disregard as it can be a trap. The 52 week period i sthere to allow you to set up a trust, not blow the compensation.

  7. I have a p.I.trust, what are complications in adding sums to it.

    Thanks

    • Mark Thompson says:

      A trust for personal injury compensation can only hold funds to the extent that such amounts are or are derived from a payment made in consequence of a personal injury to yourself.
      I write trusts so any personal injury compensation can be paid into that trust; not limited to one single claim.
      What you cannot do is pay in additional funds which have not come from personal injury.

  8. Ian Cockbain says:

    Hi. I’ve got a personal injury trust (bare). I’ve asked my solicitors for cost to remove one of the trustees and to add another. They say it will be a couple of hundred pounds to do this. Is this a fare price.
    Regards Ian Cockbain

    • Mark Thompson says:

      You will have to check the trust document to see who has the power to add and replace trustees. It is usual for the “settlor,” which means you, to have this power. A further deed is necessary to make the change and the price offered seems fair. Like all such documents it involves detailed time-consuming work.

    • Coralie says:

      Good to find an expert who knows what he’s taknilg about!

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