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Personal injuries trust
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Annmarie972
Posts: 2 Newbie
Hi hoping someone can help me .My mum is about to receive a large lump sum personal injury compensation.I have been told to set up a personal injuries trust before the payment is released.
I totally understand the setting up of the trust document by the solicitor and the charges involved. After i have the trust document i need to open the account and this is where it all gets a bit fuzzy.
I cant find a high street bank or building society that do personal injury trusts or am i googling the wrong thing?
Are there any charges from the bank for initially opening the account?are there yearly charges ?
First time posting and would appreciate any advice
Thank you
I totally understand the setting up of the trust document by the solicitor and the charges involved. After i have the trust document i need to open the account and this is where it all gets a bit fuzzy.
I cant find a high street bank or building society that do personal injury trusts or am i googling the wrong thing?
Are there any charges from the bank for initially opening the account?are there yearly charges ?
First time posting and would appreciate any advice
Thank you
0
Comments
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We had a thread just the other day. I mentioned Metro Bank and the Skipton BS. Other people weighed in with other suggestions.
https://forums.moneysavingexpert.com/discussion/5884342/trustee-accounts
Also:
http://trustsdiscussionforum.co.uk/t/bank-account-for-a-trust/3865Free the dunston one next time too.0 -
By the way, it's a common complaint both from laymen and solicitors that it can be tricky to find a bank/BS that will provide the service you want. Part of the problem seems to be that even if the bank does offer a service their branch staff will often be clueless.
Perhaps you could enquire at the HQ of any local BSs or banks you might have e.g. for me
https://ccbank.co.uk/ccb/lp1-2/
Also, look at Santander. Also, also, this looks a good phrase to google:
Trustee bank accountsFree the dunston one next time too.0 -
Only two replies and both from me. May I suggest you try another forum? Savings & Investments might be best, or Budgeting & Bank Accounts? You might like to look through the whole list first.Free the dunston one next time too.0
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I thought i had put it on savings and investments.really appreciate your help.0
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