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Hints and tips for trustees of Personal Injury Trusts

December 2016

7 simple tips for trustees

           

   
   

PI Trust Checklist – Hints and tips for trustees:   

   

On day 1:

 
  • Notify the benefits authorities about the trust.
  •     
  • Set  up a 'trustee bank account' rather than a normal current account.
  •    
 From then on, don't forget to: 
  • Make confident decisions and don't be swayed from your trustee duties
  •     
  • Ensure your financial adviser is fully independent and not tied to a financial services company.
  •     
  • Buy property in the trustees' names, not the beneficiary's name.
  •     
  • Disclose the trust when applying for care benefits
  •     
  • File tax returns
  •    
   
   

 

For further details about these hints and tips please see our full article here

Lynne Bradey View Biography

Lynne Bradey

Partner
Sheffield

16 Jan 2019

The OTS's first report on the review of Inheritance Tax

The OTS's first report focuses on addressing the "practical complexities" of the regime.

10 Jan 2019

Thinking of installing renewable energy? What you need to know about the Smart Export Guarantee

The Government is consulting on the way small generators are paid for electricity they export to the grid –what is proposed, and what does this mean?

09 Jan 2019

What is cohousing?

Continuing our series examining key community-led housing concepts, we look at cohousing as an alternative to more conventional projects.