How do I set up a personal injury trust?
Setting up a personal injury trust involves several important steps, and it is essential that everything is done correctly to ensure compliance with UK law. First, you will need to decide on the type of trust and appoint trustees. Trustees are responsible for managing the funds and must act in your best interests at all times.
ASL Solicitors will guide you through the entire process, from drafting the trust deed to ensuring the trust is correctly registered where required. We also assist with opening a dedicated trust bank account and transferring your compensation funds securely. Our team ensures your trust is set up efficiently, legally compliant, and tailored to your needs.
Our Trust Management Process
We follow a clear and structured approach to ensure your personal injury trust is set up and managed effectively.
Initially, we provide a consultation to understand your circumstances and explain your options in plain English. We then recommend the most suitable trust structure and assist you in selecting appropriate trustees.
Once agreed, we prepare the trust documentation and handle all legal formalities. We will help you establish a trust bank account and ensure your compensation funds are transferred correctly within the required timeframe.
After setup, we remain available to provide ongoing support, including guidance on managing the trust, accessing funds, and ensuring continued compliance with relevant legislation.