Have you been awarded Compensation for a Personal Injury caused by Medical Negligence and are you in receipt of benefits which are means tested. If so your benefits and other services such as free prescriptions and free school meals for children may be stopped because the award you receive may take you over the means tested financial threshold.
Our specialist team at WBW Solicitors is here to help.
If you set up a Compensation Protection Trust (otherwise known as a Personal Injury Trust) your compensation money will be disregarded in any assessment for means tested benefits. This will mean you will continue to receive your benefits indefinitely without your Compensation being taken into account and the Trust will enable you to make full use of the Compensation.
Even if you do not receive any means tested benefits now, any monies in such a Trust will protect your Compensation with regard to residential and nursing care fees if you ever require care in the future.
WBW Solicitors can advise on all aspects of a Compensation Protection Trust and help you to decide whether the Compensation Protection Trust is right for you and your circumstances. We will also advise on which type of Trust is best and help you to choose your Trustees.
We will also explain the tax implications of setting up and running of the Trust, the Trustees duties and the day to day management of the Trust.
It also be important for you to make or review your Will and our specialist Solicitors will be pleased to advise you.
Please contact us to enable the Trust documentation to be ready when you receive your Compensation.
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