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By setting up a Personal Injury Trust, you may be able to receive your compensation and retain your means-tested benefits entitlements. Therefore, a Personal Injury Trust can give reassurance that the needs of an injured person can continue to be met without jeopardising their access to essential and deserved means-tested benefits. This is only one obvious advantage of a Personal Injury Trust.
There are many other practical benefits of a Trust arrangement and our expert legal team has considerable expertise in setting up and administering the type of Trust best suited to your own unique circumstances and wishes.
The needs of the individuals as well as tax or other relevant law may dictate the type of Trust used. However, the common thread that runs through all these arrangements is that assets are held in the Trust by a person (the Trustee) who is legally obliged to look after those assets for the benefit of another person (the Beneficiary).
Trustees owe duties of, honesty, integrity, good faith and transparency to the Trust and to the Beneficiaries. Whatever the motive or reason for setting up the Trust, when we act as Trustees, the beneficiary and their family can be confident that we will look after things with integrity and always act with their best interests at heart so they can get on with their lives.