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Personal injury trusts

Published: 10:41AM BST 14 Jan 2010

A good way to protect any compensation you receive after suffering an accident or injury is through a Personal Injury Trust.

Learn about trust funds

"We can both advise
on Trust funds and
act as Trustees"
Charlotte Dunn, Partner

Access Legal from Shoosmiths can advise on all aspects of your personal injury claim, including what to do with your compensation money.

We understand that once you've received your compensation, you'll want to get on with your life.

Your compensation needs to be protected for you so that it lasts as long as possible, and it might be appropriate to consider protecting it through Personal Injury Trust.

By setting up a Trust, you're able to receive your compensation and retain any means-tested benefits now and in the future.

Setting up a Personal Injury Trust is perfectly legal and accepted by both the Department of Work and Pensions and Local Authorities. The regulations treat Personal Injury Trusts in a special way. But the special rules only apply if you decide to 'opt in', which means setting up a Trust.

You also have the peace of mind of knowing that your trustees are able to look after things, in case you're unable to do so yourself for any reason.

There are various considerations to be looked at when setting up a Trust, for example who to appoint as trustees. You can be a trustee, but you also need a trusted friend, family member or professional advisor to act with you.

There are different types of trust. It is important that the right type of trust is chosen and that you fully understand the implications of having a trust in place. For instance, there may be an obligation to submit an annual tax return.

Access Legal from Shoosmiths is able to guide you through the entire Personal Injury Trust process.