Living on benefits and social handouts at any time is hardly a great deal in life. Very often it’s a case of surviving rather than actually ‘living.’ But these means tested benefits are a financial lifeline to so many in these economically turbulent and recessive times.
Imagine then, after having made a successful claim for compensation for an accident which wasn’t your fault, those benefits came to a halt because you were suddenly classed by the authorities as being better off financially. What’s yours by right, either through unemployment or disability, is taken away after having received your cash award.
Personal injury trusts
It doesn’t have to be that way. As part of the compensation claims process, you should take legal advice on something called personal injury trusts. An Accident Advice Helpline solicitor can guide you as to how the trusts work. We have 200 no win no fee lawyers all over the UK and by letting us arrange a claim for personal injury compensation through one of our legal experts, your benefits will be safeguarded. The claims process itself can start with a call to our freephone number when one of our 24/7 staff answering will confirm if the accident happened in the last three years, you were not to blame for it and that you received medical attention for your injuries.
It takes just 30-seconds to run through this mini test for qualification after which, all being okay, we can start the claim off by putting you in contact with an Accident Advice Helpline solicitor close to where you live in the UK. From the outset, his services won’t cost you one pence, so you have nothing to lose and everything to gain. And with ‘gain’ in mind, the legal expert, in taking account of your services, may recommend you taking up the personal injury trusts option. These PI trusts are sometimes referred to by different names like Special Needs Trusts, Compensation Protection Trusts, Compensation Protection Plans or Benefits Protection Trusts.
Award not means tested
They all work the same way and by agreeing to put your money into personal injury trusts in the event of a successful compensation award, you won’t have it means tested. If you don’t, you could end up having to use it to pay for things like long-term care fees. A PI trust can also protect other means tested benefits which you may be in receipt of, such as Income Support, Council Tax and Housing Benefit.
Accident Advice Helpline lawyers would say that there is a good case for anyone who receives a compensation award over £16000 – whether they claim benefits or not – to choose personal injury trusts as an assurance measure because no-one knows what the future holds. PI trusts can ensure that, should you need ongoing care as a result of your injuries, your award is available to you as and when needed. This could be for things like home improvements or alterations, a much need holiday or, where it applies, accommodation in a more up market residential care home.
Could pay for itself
The PI trusts process is not free and costs around £700 exclusive of VAT, but of course it is paid for from your personal injury compensation award. Here’s a good way of looking at it: if you receive weekly benefits of £50, it will have paid for itself in just 14 weeks. To set up personal injury trusts, two trustees are needed. One could be yourself, the other a member of your family, so long as he or she is over 18. Your solicitor then draws up a ‘deed’ and once signed copies are completed you can open up a bank or building society account specially for trust funds. The compensation money is then transferred from your solicitors client account into your new trust fund account, he having first deducted the set up fee. It’s as simple as that!
To discuss your case with a member of our expert team dial 0800 689 0500 now.
Date Published: 2nd March 2013
Author: David Brown