1 / 11

Personal injury trusts

Under the California lemon law, the first time a lemon buyback is resold at the retail stage; it must have one-year factory warranty to cover defects and cannot lawfully be sold “as is.” http://www.lemonlawcourt.com/

eva21
Télécharger la présentation

Personal injury trusts

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. PERSONAL INJURY TRUSTS

  2. Table of content • Personal injury description • What defines a personal injury claim? • Who benefits from a PI trust? • The benefits of a PI trust • When should the trust be established? • What can the money be used for? • Our contacts

  3. Personal injury description • Personal injury trusts are known by different names • Compensation protection trust • Trust for disabled persona • Special needs trust All mean the same thing - a trust established as the result of a compensation award for a personal injury IT IS THE SOURSE OF THE AWARD THAT IS IMPORTANT.

  4. What defines a personal injury claim? • Not just suitable for awards as the result of a judgment or Consent order • Money held in the trust must be derived from a payment made as a consequence of a personal injury • But this may include: • Payments from critical illness or other accident policies • Criminal injury compensation scheme payments • Vaccine damage payments • Motor insurance bureau payments • Lump sum payments following charitable collections • Public donations made to injured parties • Out of court settlement

  5. Who benefits from a PI trust? • Those in receipt of means tested benefits or who are likely to receive benefits in the future • Vulnerable persons • Someone who has “spent” the money before it is received • Someone with predatory “friends” and relatives • Someone with a history of money or relationship difficulties • Someone lacking financial experience

  6. The benefits of a PI trust • Protection of means Tested benefits now and in the future • Protection against the cost of residential and nursing home care • Protection in the event of future loss of capacity • Possible protection from creditors • Possible protection in the event of divorce • Protection from negative influences

  7. When should the trust be established? Dependent on circumstances • The 52 week disregard • (Protects claimants means tested benefit entitlement • Protected for a period of 52 weeks from receipt of award) As soon as practicably possible

  8. What can the money be used for? • Spending should • be for the benefit of the beneficiary • have the agreement of all trustees • Typical uses may include • holidays • school or university fees • new car purchase

  9. CONTACT US 801 N. Brand Blvd. Suite 210Glendale, CA 91203 Tel. (818) 553-1000Fax (818) 553-1005 www.facebook.com/MargarianLaw www.linkedin.com/company/margarian-law https://www.youtube.com/user/dealerfraudlawyer

  10. For further information visit: http://margarianlaw.com/ https://en.wikipedia.org/wiki/Personal_injury_trust http://ow.ly/XkVCj

  11. Thank you!

More Related