Compensation Protection Trust
A compensation protection trust allows you to protect any compensation received as a result of a successful personal injury claim.
What is a Compensation Protection Trust?
If you have received compensation from an injury claim, a trust will allow you to protect the money without restricting your access to the funds.
It’s important to retain your eligibility for means-tested benefits, including:
Income support
Job seekers’ allowance
Employment support allowance
Pension credit
Housing benefit
Council tax benefit
Residential care assessments.
You may be familiar with the above as the umbrella term ‘universal credit’. More information can be found on the government website.
Why is it recommended to consider legal assistance when creating a compensation protection trust?
One of our professional and experienced solicitors can help you work out which trust is best for you, which conditions should be included, ensuring the trust does not conflict with your will, and whether or not you can save on tax payments.
What happens to my trust if I die?
Any funds in your trust will become part of your estate, and will be distributed as such by your executors.
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