Personal Injury Trust
If you have received compensation following an accident or injury, protecting that money is essential. A Personal Injury Trust allows you to safeguard your compensation while ensuring it does not affect your eligibility for means-tested benefits.
At MWQ Estate Planning, we help individuals and families establish Personal Injury Trusts that protect compensation payments, provide financial security, and ensure funds are managed in the best interests of the injured person.
Our experienced advisors offer clear guidance, tailored solutions, and affordable pricing, helping you make the right decisions during what can often be a difficult time.
Request a free consultation today to discuss your options.
Why Set Up A Personal Injury Trust?
A Personal Injury Trust offers several important benefits for individuals who have received compensation.
Protect Means-Tested Benefits
One of the main reasons people establish a Personal Injury Trust is to ensure their compensation does not impact their eligibility for benefits. Compensation kept in a standard bank account may be treated as savings and affect entitlement.
Safeguard Compensation
Compensation payments are often intended to cover long-term needs such as care, rehabilitation, or adapting your home. A trust ensures that these funds are protected and used appropriately.
Financial Oversight and Support
Trustees help manage the funds responsibly, ensuring that spending decisions support the injured person’s wellbeing and long-term needs.
Peace of Mind
Knowing that your compensation is protected can provide reassurance for both the injured person and their family.
How A Personal Injury Trust Works?
A Personal Injury Trust involves placing compensation funds into a dedicated trust account managed by trustees.
The typical process works as follows:
- Compensation is awarded following a personal injury claim.
- A Personal Injury Trust is established by legal professionals.
- Trustees are appointed to manage the funds.
- The compensation is transferred into a separate trust bank account.
- Funds are used to support the injured person when required.
The injured person remains the beneficiary of the trust, meaning the money is still used for their benefit, but it is managed in a way that protects benefit entitlement.
When Should You Set Up A Personal Injury Trust?
Timing is important when establishing a Personal Injury Trust.
Generally, a trust should be created within 52 weeks of receiving compensation to ensure the funds can continue to be disregarded when benefits are assessed.
Even if you have already received compensation, it may still be possible to set up a trust within this timeframe.
If you are expecting a settlement, it is often advisable to arrange the trust before the compensation is paid, ensuring a smooth process.
Why Choose MWQ Estate Planning
Clients choose MWQ Estate Planning because we combine professional expertise with a personal approach.
✔ Clear, straightforward advice
✔ Affordable alternatives to high-street solicitors
✔ National service across England and Wales
✔ Members of the Society of Will Writers
✔ £2 million professional indemnity insurance
✔ Thousands of satisfied clients and excellent reviews
Our goal is simple: to help you make informed decisions and protect your financial future.
Request A Free Consultation
Our friendly advisors are available to explain your options and guide you through the process.
Call us today on 0800 066 2930 or request a free, no-obligation consultation.