Personal Injury Trusts
For anyone who is unfortunate enough to be making a claim for personal injury, accident or clinical negligence, you need to make sure that you do not lose out on the means-tested benefits which you have been receiving or could be entitled to in the future.
To preserve those benefits it is well worth considering arranging for your compensation money to be paid into a personal injury trust. You will still be able to have some control over your compensation and benefit from it, but under the statutory provisions applicable only to personal injury trusts it will not be taken into account in any means-testing of your benefits.
This is a technical area which requires careful advice from both your personal injury lawyer and a specialist in personal injury trusts. In particular the type of trust arrangement needs to be decided as it will have differing personal and tax consequences. In the case of a catastrophic injury where the claimant no longer has capacity to make his own decisions, the involvement of the Court of Protection and the appointment of a deputy to manage the claimant’s affairs will also be required.
At Coffin Mew we have experienced legal advisers who can provide you with the advice you need for such claims and trust arrangements, and we also have excellent connections with independent financial advisers specialising in the investment of compensation monies.
For more information, call Coffin Mew on freephone 0800 834627 or email them on firstname.lastname@example.org to arrange a no obligation appointment.
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