Personal Injury Trusts
You might have received personal injury compensation for a number of reasons: you might have had an accident, been injured at work or been successful in a medical negligence or criminal injury claim.
Anyone receiving compensation for personal injury needs to seriously consider putting that compensation into a trust.
Personal injury trusts are not for everyone but it is critical that you consider the benefits such an arrangement might offer.
Personal Injury Trusts protect entitlement to benefits and community care services
Receiving even a few thousand pounds in compensation can affect your entitlement to means-tested benefits like income support and housing benefit. You might also have to pay for your community care. Even if you are not receiving any benefits or services just now, remember this could change. You might be made redundant or need to move to residential care in the future. It is also important to think about what a child might need when they become an adult.
If you put any compensation you receive into a suitable trust the money is disregarded for certain purposes. This means it will not affect means tested benefits or some other financial assessments. But it can still be used to improve your life.
Personal Injury Trusts can provide support for people with reduced capacity.
A personal injury trust is also worth serious consideration where the person receiving compensation has reduced capacity. This might be as a result of a head injury, learning disability, illness, stroke, dementia or significant mental health issues. A trust is an effective way of protecting a person from exploitation. It also ensures funds are used only in the person’s best interests.
How we can help
Cairn Trust Mangement offers a range of services that allow you to retain as much, or as little, decision making power as you want.
We offer a pro-active service and will develop a plan, in conjunction with you and the people important to you, for how funds can be used to enhance your life in the short, medium and long term.