Personal Injury Trusts

If you are in receipt of help and assistance by way of means tested benefits or local authority funding for care and support you may lose this if your financial circumstances change.   

A change of financial circumstances includes the receipt of a personal injury award which is intended to compensate you for your injury.

The creation of a simple trust to look after your award can enable you to retain your benefits and the additional support that you need.  

Ideally, you need to set up the Trust within 52 weeks from the date that you receive any payment to compensate you for your injury.  That payment may be an interim or final payment from an insurance company or in some circumstances it may be a payment from another source such as a benefit connected with your employment. It is therefore important to act promptly if you know that a payment is due.

Hyphen Law can:

  •  Prepare the trust documents 
  •  Provide you with Professional Trustees or give advice to Trustees of your choice.
  •  Deal with the day to day trust administration
  •  Obtain financial advice on your behalf
  •  Ensure that the trust complies with any legal formalities 
  •  Prepare the trust tax return and accounts.

Hyphen Law can make sure that you receive the money that you are entitled to, and help you look after it properly.

Even if you are not currently in receipt of means tested benefits or support it may still be beneficial to set up a trust in case your circumstances change.

Talk to us and find out how we can help.

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