Infant settlement trusts

These trusts are created for the benefit of a minor. They can be accessed by a parent, guardian, or solicitors, and they allow access to compensation which could be used for the benefit of the child without additional permissions from the court.

The process of a settlement trust

These funds are recommended by court for minors who have been awarded a significant amount of money following a personal injury claim.

In setting up this trust, the trustees – usually parent or guardian and a solicitor – will have access to a range of investments. They will also have more control of the funds, which can be used for things like treatments, maintenance, and education for the child.

The trust can carry on after the age of 18, which can be useful in protecting it from the potential eligibility process of means-tested benefits.