Personal Injury Trust (PIT)

A Personal Injury Trust (PIT) is a legal structure that is set up to hold injury compensation payments received as a result of a personal injury claim. The purpose of a PIT is to protect the claimant's assets, particularly their benefits, which would otherwise be affected by receiving compensation.

For example, if someone who is receiving means-tested benefits, such as disability benefits, receives a large sum of money from a personal injury compensation claim, their benefits may be reduced or withdrawn altogether, as the compensation is considered a “capital”.

By placing the money in a Personal Injury Trust, the individual's benefits will be protected, and they will have the freedom to manage their money and use it for their care and support needs, or for any other purpose.

Personal Injury Trusts are established to ringfence a claimant's compensation. If you currently receive financial benefits from the state, or you suspect that you may need to claim financial benefits in the future, setting up a personal injury trust is highly recommended when making a claim.

Read more:

Should I set up a Personal Injury Trust?

How will a personal injury claim affect my state benefits?

Will I have to pay tax on my injury compensation award?

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Chris Salmon, Director

Author:
Chris Salmon, Director