Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    james2005
    Compensation payout - On benefit due to injury so Solicitor advises Ring Fencing
    • #1
    • 11th Nov 10, 7:53 AM
    Compensation payout - On benefit due to injury so Solicitor advises Ring Fencing 11th Nov 10 at 7:53 AM
    Hello my friend has received a medical negligence compensation payout and the solicitor has recommended they ring fence it by putting it into a trust, which means appointing trustees and therefore this will not affect there entitlement to benefits as the payout exceeds the savings amount.

    Has anybody any experience with these, any disadvantages/advantages?

    I suppose the disadvantage is the solicitor is holding my money, can my friend be ripped off.

    What sort of fees are payable for administering it as I am sure its not free of charge?

    Whats the best way forward...

    Many thanks
Page 1
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

5,036Posts Today

7,489Users online

Martin's Twitter