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Personal Injury
Most people involved in personal injury claims simply want to get on with their lives once compensation has been awarded. Without thinking ahead, this can result in loss of means tested state benefits.
Consider the example is of someone who has an accident and suffers personal injuries. Before the accident they are entitled to income support. They may lose that entitlement to if damages from their personal injury claim are taken into account in the means testing process.
By setting up a personal injury trust and arranging for the damages to be paid into the trust, the damages (in the form of the trust fund) should not to be taken into account in the means testing process and the entitlement to income support should continue.
A personal injury trust (PI trust) can take the form of a life interest trust, a discretionary trust or, usually, a bare trust.
It is important to consider all of the legal, practical and tax implications before creating a trust. At Hart Brown our experienced team will guide you through the implications and help you set up a trust that best suits your objectives. We can also act as trustees of the trust.
Hart Brown also has a team of lawyers who specialise in personal injury and clinical negligence claims.
To speak to someone who can advise on a personal injury trust or any other type of trust call, email or request a call back from one of our specialist lawyers.
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