We are all very aware of the potential for making Personal Injury claims on today’s world. Adverts bombard the TV screens pushing the fact that if you have suffered such an injury, you may need to consider how your condition could deteriorate and what financial compensation you may need to help you.
However, bear in mind that an award of damages will not help you if it affects any means tested State Entitlement you may be receiving. This is because your means tested benefits will reduce in proportion to the capital you own in your name.
If an award of damages is paid into a Personal Injury Trust then the capital can still be used to benefit you, but in such a way as not to infringe on your right to State help. It is important to consider this and implement it (if appropriate) when you receive the award. Please click here for full details of how we can help.
Anyone with a disabled or otherwise vulnerable Child should also consider including a Trust provision in any will, so that he or she also will not lose State Entitlement, as well as being protected from third parties.
Our Trust team can give the right help you need with the administration of the Trust. We can register the Trust with the Inland Revenue for you, complete Tax Returns and Trust accounts and advise you about the legal consequences of investing and distributing the Trust Fund.