WE PROVIDED MARK WITH ADVICE AND RECOMMENDED THAT HE SET UP A PERSONAL INJURY TRUST. A TRUST DEED WAS PREPARED WHICH DETAILED MARK, HIS WIFE AND DAUGHTER AS TRUSTEES.
Mark is a gentleman aged 58 whose personal injury claim settled for £85,000.
At the time of settlement, Mark was receiving Employment Support Allowance, which is a means -tested benefit. The level of compensation meant that Mark would be obliged to declare this income to the Benefits Agency and as such would be at risk of losing his entitlement to this benefit.
Mark was provided with advice and was recommended to set up a personal injury trust. A Trust Deed was prepared which detailed Mark, his wife and daughter as Trustees.
The compensation payment was paid straight into the Trust Account meaning Mark would be able to retain his entitlement to means-tested benefits.
All names have been changed to protect the identities of the individuals
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