Hints and tips for trustees of Personal Injury Trusts

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.
   

• 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