Setting up a Trust or Deputyship Funds, be it compensation from a personal injury award or your own personal finances, can be managed in one of two ways: Through a deputyship if a person does not have the mental capacity to make financial decisions. Through a Personal Injury Trust if a person has a physical disability or is vulnerable but has no capacity to make financial decisions. When do we become involved? The Deputy or Trustee usually becomes involved once an interim payment for compensation has been made or funds are available. However there is no legal authority to manage those funds until the Deputyship Order has been received or a Trust set up. This could take several months and it is therefore important to commence an application to appoint a Deputy or Trustee as soon as possible. Advantages Money from a personal injury award once placed into a Deputyship or a Trust cannot be taken into account in respect to means testing for state benefits and therefore the funds in the Deputyship or Trust are effectively “ring-fenced”. However this is not the only advantage of a Deputyship or Personal Injury Trust and other points to consider are: The protection offered to a vulnerable person from opportunists. Support from a host of professionals with broad experience and a proven track record. This includes case managers, fund managers, bankers, accountants and solicitors with specialist experience. The ability for a minor to attend trustee meetings from their teenage years so as to become familiar and competent in how their money is managed. An unbiased and independent view from a Deputy or Trustee. What can funds be invested in? Funds can be invested in a number of ways including the Stock Market, National Savings or Premium Savings Bonds, bank accounts and property. Each portfolio is bespoke to the client’s needs and discussed fully with those who can assist in the decision making.