What is a Personal Injury Trust?
A personal injury trust is an arrangement where your trustees hold a personal injury award on your behalf. It normally acts as a form of financial protection to individuals who have capacity and therefore are not under the Court of Protection. One advantage of a personal injury trust is so that you can retain your entitlement to means tested benefits. This allows you to protect the damages you’ve received following a personal injury claim. If money is needed from the trust, the trustees must agree to its release.
Trustees are normally close friends and relatives. Many people also choose to have a solicitor as one of their trustees because an independent party can take an objective view if issues arise as to how the trust fund is spent.
Please see our information sheets, 'Personal Injury Trusts' and 'Personal Injury Trusts: Advantages of a professional trustee'.
How our Court of Protection lawyers can help with Personal Injury Trusts
Our team will be able to:
- Advise you of the options and whether a Personal Injury Trust is right for you
- Set up a trust
- Draft the trust deed
- Advise on who to appoint as trustees
- Act as a professional trustee and manage the day-to-day running of the trust
- Appoint new trustees
- Assist in the removal of existing trustees
Our Court of Protection and Trust Management expertise
We have one of the largest specialist Court of Protection teams in the country and a dedicated Trust Management Team. We have the expertise and resources to deal with any matters concerning setting up and operating personal injury trusts on behalf of injured and vulnerable clients.
Eddie Fardell, Martin Terrell and Brian Bacon are highly regarded experts, with over 50 years experience between them. All three are recognised as leading individuals by Chambers and recommended lawyers by The Legal 500. Eddie and Martin are on the Court of Protection User Group and Martin Terrell is on the panel of external Deputies. They regularly receive direct referrals from the Court and other professionals.
Our specialist Court of Protection lawyers give straightforward, practical advice and have the experience to ensure they secure the best possible outcome for the person who has received the personal injury award.
Free initial consultation
Call us on 01892 510000 to arrange a free initial consultation. We’ll clearly explain the options and the processes involved with the Court of Protection in the setting up of Personal Injury Trusts.