A solicitor can help you draft a trust deed which will include details such as the reason the trust was created, it will name the trustees, the beneficiaries and outline how the trust fund should be managed and used.
A trust account will also need to be opened specifically for the PIT.
The trust’s financial situation should be regularly reviewed to ensure that the use of the injured parties funds are being used in their best interests.
Setting up and running a Personal Injury Trust can be complex therefore it is advisable to seek legal advice before doing so. If you have any questions or require further information please contact one of our specialist lawyers at Apricity Law: