Compensation protection trust
With a compensation protection trust you can protect any compensation that you received from a successful personal injury claim. If you want to set up a trust or want more information on this topic, our expert solicitors are here to assist you with your questions about trusts.
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What is a compensation protection trust?
If you have suffered a personal injury and received compensation, a trust can protect your compensation without restricting your access to the fund.
A compensation protection trust is important to retain your eligibility for means-tested benefits such as:
- Residential care assessments
- Income support
- Income based job seekers allowance
- Income related employment support allowance
- Pension credit
- Housing benefit
- Council tax benefit
Why should I consider legal assistance when setting up a compensation protection trust?
We strongly advise working with an expert solicitor when setting up a compensation protection trust. They can help you with the following:
- Which conditions you should include
- If you can save taxes with your trust
- Ensuring your trust does not conflict with your will
If I die, what happens to my compensation protection trust?
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