Probate, Trusts and Estate Administration
If you have received compensation for a personal injury either from a legal claim or an insurance payout, you might discover that you're no longer eligible for certain means-tested state benefits like Income Support, Jobseekers Allowance, Employment Support Allowance, and Housing Benefit.
Any compensation that you receive is typically intended to cover lost earnings or assist in adapting to new circumstances and injuries. To safeguard your compensation from being considered in means-tested benefit assessments, and to secure your financial future, you may consider setting up a Personal Injury Trust.
Our Personal Injury Trust legal experts offer assistance and advice on establishing and managing trusts.
Funds held in a Personal Injury Trust are managed by appointed trustees, typically including you, your spouse or partner, or a parent. Solicitors may also be appointed as trustees, particularly in cases involving compensation for a child, or large compensation awards following a complex personal injury claim. Trustees hold the funds in trust for the person who benefits from the trust, known as the Beneficiary. Any withdrawals from the trust require unanimous agreement from all of the trustees. To ensure that you maintain eligibility for means-tested benefits, your compensation should be deposited into a specially designated trust account, separate from your personal finances. You and your partner can retain up to £6,000 collectively outside of the trust without this affecting your means tested benefit benefits.
Our experienced Personal Injury Trust legal experts offer comprehensive assistance in establishing and managing trusts. Providing clear and compassionate legal guidance, we prioritise your well-being and work diligently to protect your assets during what may be a challenging time.
Our specialist solicitors can advise you on:
If you need advice in relation to personal injury trusts then please don’t hesitate to reach out to our team of personal injury and trust trust experts based at our Weston-super-Mare, Clevedon, Yatton, Bridgwater, Bristol and Wedmore offices.
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