More time with grandchildren following Trust advice
Mrs R's family had been very supportive following her accident and thought they were doing the right thing by encouraging her to spend her compensation on a holiday for the entire family. They thought this would cheer her up, but they hadn't stopped to think about Mrs R's long term needs and whether she may need to use her compensation funds to help pay for her future needs.
Mrs R was also at the age when she worried about the cost of going into a nursing or residential home. She was also keen to ensure she could pass what was left of her compensation monies to her family through her Will when she died. She understood that the cost of care was high and she worried about what to do for the best.
Mrs R received good, solid advice from Access Legal from Shoosmiths, and a member of our team suggested she might like to consider setting up Personal Injury Trust. She was advised that this 'ring-fenced' her compensation, ensuring her compensation monies would not be taken by the local authority to pay for the cost of her care if she ever needed to go into a home.
Mrs R decided she wanted to appoint a partner from Shoosmiths as her co-trustee. She thought this was a good idea, as someone could help her run the Trust and it also reassured her.
At the same time as setting up Mrs R's Trust, we also prepared a new Will for her so that it was up to date (she had had more grandchildren since she last made her Will), along with preparing a Lasting Power of Attorney for her in relation to her property and affairs.
Mrs R was relieved to have everything in order and settled, letting her concentrate on the most important issues: her recovery and enjoying time spent with her family.
