× Members

Savings

More
2 years 2 months ago #274620 by Michael
Replied by Michael on topic Savings
Hi from what I have been reading online a personal injury trust account seems to be the way to go if you put it in that account type and do not spend anything on what your benefits are supposed to be for it should not interfere with them. That is all well and good but still I am left wondering about my original question would the fact my partner is getting a compensation pay out even if it goes straight into a trust account be a change of circumstances and trigger a migration over to UC and could cause us to lose our severe disability premiums.

Please Log in or Create an account to join the conversation.

More
2 years 2 months ago #274642 by Gary
Replied by Gary on topic Savings
Hi Michael

Your question is outside the remit of the forum, you do need to get specialist advice from a Welfare Rights Organisation who can all your circumstances into consideration and give you accurate advice.

Gary

Nothing on this board constitutes legal advice - always consult a professional about specific problems
The following user(s) said Thank You: Michael

Please Log in or Create an account to join the conversation.

More
2 years 2 months ago #274648 by denby
Replied by denby on topic Savings
Hi Michael, If a trust is to be set up it will need a solicitor to do it. I don't know about now, but in the past some CAB branches had contacts for local solicitors who would provide at least a free half hour advice slot 'pro bono' ie free of charge. Worth asking.
You'll also need two to four persons suitable and willing to act as Trustees.
Wikipedia says: "A personal injury trust is the only legitimate way to hold and use compensation and still receive means tested benefits."
You may also find this useful:
www.headway.org.uk/media/2782/a-guide-to...trusts-factsheet.pdf
It's nine pages and Headway is a reputable independent charity.
www.gov.uk/trusts-taxes/trusts-for-vulnerable-people
is the definitive info.
best wishes
Denby
The following user(s) said Thank You: Gary

Please Log in or Create an account to join the conversation.

Moderators: GordonGaryBISCatherineWendyKellygreekqueenpeterKatherineSuper UserChrisDavid