Protecting your compensation - PI Trusts
- Have you recently or are you about to receive a Personal Injury compensation award which will push your household capital over £16,000?
- Are you, or may you in future be entitled to means tested benefits such as Income Support?
If the answer is "YES" then your entitlement to compensation may be affected.
Compensation Protection Trusts are a legal and straightforward way of protecting your compensation. Any money held in such a trust will not count towards capital for your benefit calculations. You can choose who looks after your compensation money, where it is invested, and who is able to receive any benefit from it.
Without such a trust your state benefits may be reduced £ for £ for each £ of compensation you receive.
Please note: the trust needs to be set up before you receive the money.
In order to protect your benefits and your compensation, please speak to your claim handler about creating a Compensation Protection Trust or contact Kirsti Edmead.
