Personal Injury Trusts
In addition to providing portfolio management services for individuals and trusts we also provide investment services for recipients of personal injury compensation awards who have already put these into a Personal Injury Trust. We can also provide trust set up documentation if required. We understand that it is the practical advantages of a trust that can be invaluable in personal injury claims. Some of the advantages of Personal Injury Trusts in our view are as follows:
· Some claimants may not have the mental capacity required to make their own financial decisions and so the Personal Injury Trust to some extent passes control of the award to the trustees which provides an appropriate mechanism by which money can be managed and applied in the claimant’s best interest.
· In many cases, while having mental capacity, the claimant may lack the experience of managing what could be a relatively substantial amount of money. Lacking such knowledge or even just self confidence to make financial decisions can leave clients vulnerable and this is where the Personal Injury Trust can help.
· Other claimants may simply want to get on with their lives without the worry of having to manage and/or invest an award and so setting up a Personal Injury Trust and placing control of this with the Trustees allows them to do this.