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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

22 May 2019

Update on how retirement complexes' event fees could affect community-led housing groups

An event fee is a charge made by a landlord on the occurrence of a specified event, for instance, if a tenant sells its lease.

17 May 2019

Severance payments and the academy trust: what you need to know - PART 1

An agreed exit for school staff via a settlement agreement may be trickier than you think…

16 May 2019

Succession planning for diversification projects and land with development 'hope' value

The range of options available, and the importance of acting early with professional input