Personal Injury Trusts and Compensation Awards
Receiving a damages award can be a mixed experience. On the one hand you might be happy that a traumatic period of your life which involved ongoing litigation to obtain compensation for an injury has finished. On the other hand you may feel bewildered by what to do next.
Personal injury or compensation awards can be substantial and it may be the first time you have received a large sum of money.
A Personal Injury Trust is a protective wrapper which protects your award from means tested benefits, care fees and requests for inappropriate financial support from others.
A Personal Injury Trust can take many forms; a Bare Trust, a Life Interest Trust, a Discretionary Trust or a Disabled Person Trust. The type of trust needed depends upon your personal, financial and family circumstances.
The nature of any ongoing Trust Administration depends upon the type of trust created so personal advice is key – one size does not fit all.
We are specialist advisers in the creation of Personal Injury Trusts. We provide valuable support and advice to preserve your award for its intended use.