Personal Injury Trusts

A personal injury trust is the name given to a trust that holds money that has been awarded as compensation to a person as a result of a personal injury.

There are different types of personal injury trust, depending on the injured person’s individual circumstances.  The team at worth.legal provide advice for clients and professionals as to the benefits of using a personal injury trust and the type of trust that could be suitable.

Money that is held in trust as a result of damages or compensation can usually only be used for the benefit of the person who has been injured. The injured person is the beneficiary of the trust, and the money in the trust is held in the names of the trustees.

It is usual for there to be two or more trustees to hold money in a trust on behalf of the injured party. Trustees could be a trusted professional, a suitable family member or friend, or a combination of the two.

The role of a trustee brings with it certain duties that must be fulfilled, such as keeping accounts, meeting regularly and taking professional advice as to how to manage money that they hold on trust. Acting as a trustee brings with it a large amount of responsibility; we can advise trustees to ensure they carry out their duties properly.

Read our FAQ’s on Personal Injury Trusts or contact clare@worth.legal to find out more.

Personal Injury Trust advice is provided by Helen Gott and Clare King as Legal Consultants at Legal Studio Solicitors.  Legal Studio”, “Legal Studio Solicitors” and “MDLS Solicitors” are trading names of MDLS Solicitors Limited. MDLS Solicitors Limited is a Limited Company which is registered at Companies House under Company No. 08599445.

MDLS Solicitors Limited is authorised and regulated by the Solicitors Regulation Authority under SRA number 598793.