Personal Injury Trusts
A Personal Injury Trust is a special type of Trust which can be set up to manage compensation awarded due to a personal injury.
If you have been awarded compensation because of a personal injury claim or a ‘pay out’ from an insurance policy, you may find that you are no longer able to claim means tested benefits (for example, Universal Credits or Employment and Support Allowance) or funding towards residential care home fees. However, if you place this money into a Personal Injury Trust it should be disregarded when assessing your eligibility for these benefits and any funding towards residential care home fees.
Our Court of Protection team can provide you with advice on whether a Personal Injury Trust is right for you and can guide you through the process of setting up the Trust to include opening the bank account which will be required to hold the Trust funds.
Our team can also provide advice on the ongoing management of the Trust and can assist with the appointment of new trustees or removal of existing trustees.
For more information or advice from our specialist team please contact us: courtofprotection@chadlaw.co.uk.
