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      Brief overview of the Personal Injury Trust.

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Personal Injury Trust
UK Partners
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Personal Injury Trust
Court of Protection

Personal Injury Trust

Upon payment of a personal injury compensation award, entitlement to means tested state benefits (MTSB) may be reduced or even stopped completely.

 

You are able to hold certain amounts of capital which are known as capital thresholds and are calculated per household. If you or your partner are in receipt of MTSB, your entitlement may be affected as a result of Personal injury Compensation.

 

Personal Injury compensation awards held in a trust are disregarded when assessing current or future entitlement to means tested state benefits/support.

You have a period of 52 weeks from the date that you receive your Personal Injury compensation award, either in interim payment or a final settlement to establish a Personal Injury Trust. Beyond this 52 week period, if you receive MTSB your compensation award counts as capital when they assess your entitlement and you may lose your benefits.

 

If you receive a Personal Injury compensation award and you are receiving MTSB you are under a duty to notify your local Benefits Agency about your award. You also need to tell them if you decide to set up a Personal Injury Trust with your compensation, but the value of the money in the Trust will be disregarded.

 

You could consider setting up a Personal Injury Trust even if you are not in receipt of MTSB in order to protect any future entitlement.

 

There is no upper limit on the amount that can be placed into a Personal Injury Trust.

 

Capital held within a Personal Injury Trust is also usually disregarded from the means test for residential care and other forms of Health/Local Authority support including care in your own home.

 

Not all state benefits/support are means tested.

 

Phone: 01204 366 300 | Fax: 01204 366 344 | Email: info@mswm.co.uk | Address: Kirkhall Place, 69 Chorley Old Road, Bolton, BL1 3AJ | Site Map