Write your search here
  • FAQs
  • Claim Journey
  • Serious Injury
  • INK

Personal Injury Trusts

Frenkel Topping are one of the biggest providers of personal injury trusts in the UK, setting up hundreds each year. A personal injury trust can be set up after a serious injury, to hold and manage damages and settlement payments which are awarded following the accident.  

Frenkel Topping are one of the biggest providers of personal injury trusts in the UK, setting up hundreds each year. A personal injury trust can be set up after a serious injury, to hold and manage damages and settlement payments which are awarded following the accident.

Personal injury trusts can be set up and used, solely for the benefit of the injured person following:

  • road traffic accidents
  • accidents at work
  • slips and trips

Or any other situation where an individual has suffered a personal injury and is due to receive a damages award.

There are several key benefits/features to consider when opening a personal injury trust, with these being briefly summarised below:

Protection of means tested benefits/community care support

The main benefit of holding personal injury damages in a personal injury trust is that the money can be held so that it is ringfenced when assessing entitlement to means test benefits (such as Universal Credit) or community care support. Usually, a certain amount of money in your household's accounts can stop these benefits, but holding your damages in a personal Injury trust means you can retain entitlement, even if the award is a significant sum.

Additional support in decision making

An additional feature of the personal injury trust is that it is always operated by a minimum of two trustees, usually the beneficiary and one other person. This means that big financial decisions aren’t taken alone, and there is always that additional support from a trusted friend, family member, or even a professional if required. As you decide whether to use a trust or not, Frenkel Topping can work with you to help you consider the thresholds for benefits and care contributions you could be eligible for, both now and in the future, and how they may apply to your situation.

Safeguarding and Managing

The benefits of a personal injury trust however, go beyond just preserving benefits. Some people may not be receiving benefits but still want to protect their injury fund from being consumed by care costs, while others aim to safeguard the fund from third parties. Some simply need help in managing it. Our team are here to help you, whatever category you fall into.

Who Provides the Services

The financial services & support are provided by Frenkel Topping in part through a joint venture called Minster Financial Services Limited.

Frenkel Topping directly provide the financial services up to our clients receiving their settlement.  Minster Law does not receive any payment, commission or similar from Frenkel Topping when we recommend them to you. Frenkel Topping will discuss and agree their charges with you if you do decide you’d like to instruct them after your initial free conversation.

Once a settlement is received, the service is then provided by Minster Financial Services. Minster Financial Services is a joint venture between Frenkel Topping and Minster Law’s sister company Coral Insurance Services Limited . Minster Financial Services Limited is an appointed representative of Frenkel Topping Limited. Frenkel Topping is authorised and regulated by the Financial Conduct Authority. Minster Law share common ownership with Coral and share some common directors with them. Coral do share in the income of Minster Financial Services with Frenkel Topping.

Rest assured that we will always act in your best interests.

In relation to Minster Financial Services and Frenkel Topping, the Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren’t able to resolve themselves. To contact the Financial Ombudsman Service please visit www.financial-ombudsman.org.uk.

The guidance and/or advice contained in this page is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK.

The Financial Conduct Authority does not regulate trusts