What does it cost to set up a personal injury trust?
I charge a fixed fee of £400 plus VAT, that is £480 in total. I will prepare a bare trust document, called a trust deed, and coach you and the trustees through the signature process and the opening of a bank account. Once that bank account is open, I will give notice of the compensation and trust to benefit agencies. This tends to smooth the path and I know many people are nervous about contacting benefit agencies.
There is no ongoing charge. I am often asked about such charges, which I think might be charged if you appoint a professional trustee.
The way I work is set out here.
I prefer to work on a fixed fee, so we know where we stand. Ask me about paying the fee from the compensation once the trust is set up.
Compare the cost with the benefits you receive. Compared to losing your benefits, the cost to set up a personal injury trust is very good value for money. A trust is the onlt legitimate way to protect your benefits, so you will come to see it as a postive thing.
I have heard of a wide range of fees charged for preparation of personal injury trusts. I think my fee is fair, but if you hear of a fairer one. do please let me know.