Personal Injuries Trust Funds

[sammmo]

my daughter has just been awarded personal injuries compensation. Her solicitor says she should open out a personal injuries trust fund. This will cost £600 is she uses her solicitor. My question is can she do it herself or do she need the solicitor to do it. Thanks for your answers in advance.

[Buenchico]

Theoretically your sister could do the paperwork herself but setting up a bare trust isn't simple and I'd certainly advise against attempting to do so. (I used to write wills for a living, so I'm reasonably confident with formal paperwork, but I wouldn't try to draw up a trust on my own).

Solicitors often charge over £1000 to set up a trust, so £600 seems quite reasonable to me. There'd be no harm in 'shopping around' though, possibly giving this guy a call:
http://www.markthompsonlaw.com/need-a-personal-injury-trust/personal-injury-trust-to-protect-personal-injury-compensation/

[Barmaid]

Why does the solicitor say that? Unless she is putting benefits at risk and assuming she is an adult why cant she just manage her own money?

[Buenchico]

Barmaid:
I'd guess that the solicitor is following the same line of thinking as the one in my link above does.