What is a P I Trust Fund?
A Personal Injury Trust Fund (P I Trust Fund) is a fund set up following a claim for compensation. When you choose to place your compensation amount into a P I Trust Fund, it protects this sum of money being taken into account for means tested benefits – meaning any financial support you currently receive will not be affected.
How does a Trust Fund work?
Your Trust Fund will be managed by your Trustees – people who you have entrusted to look after your money on your behalf. You will still be able to access this money: to receive money from your P I Trust, you should be able to receive a cheque signed by your Trustees.
Should I put my compensation into a trust?
It is usually best to speak with a professional to make an informed decision about your compensation amount and whether it should be put into a P I Trust Fund. It may be in your interests to place all or just some of your compensation amount into trust, depending on your circumstances.
Am I able to receive compensation?
If you have not yet made a claim for compensation, you should take action as soon as possible. It is only possible to make a claim during the three years following your accident (except in the case of under eighteens), as long as someone else was to blame and you needed medical attention as a result.
To check if you are eligible, simply use Accident Advice Helpline’s 30 second test which will also give you an idea of how much you can claim. It’s a quick and convenient way to check you are eligible. If you are, you should make steps to claim as soon as possible.
How is a claim made?
You will need legal representation to make your claim for compensation. It is best to find the help of a personal injury lawyer or compensation provider with proven experience in your type of personal injury claim – whether a whiplash injury following a road traffic accident, an asbestos-related illness from the workplace or a broken arm following a slip in a restaurant.
At Accident Advice Helpline, we ensure you are looked after by the best team for the job. With over 190 legal partners to choose from, we make sure your claim is handled by professionals on a no win no fee basis.
To make your claim today, just get in touch with us via our 24 hour advice line, or by using our 30 second test or online claim form. Either way, you will be treated with the same level of friendliness, understanding and professionalism – ensuring you can make a claim with minimum fuss and hassle.
Accident Advice Helpline is endorsed by UK consumer champion Esther Rantzen. Her endorsement offers you the peace of mind that we will use our years of experience to provide you with the very best claims service possible.
Date Published: 27th September 2013
Author: Sharon Parry