Personal Injury Trusts in Scotland - The Nuts & Bolts for PI and Private Client Lawyers
Personal Injury Trusts are a legislatively enshrined means of ensuring that recipients of damages, awards or payments in consequence of personal injury are not financially prejudiced or otherwise disadvantaged by payments intended to protect and compensate.
Whilst PI Trusts are a developed area of specialism and practice south of the border, they perhaps remain under-utilised or misunderstood in Scotland. They represent a vital planning tool for the injured party, one which, when overlooked or misunderstood, has the potential to expose the client to avoidable cost and professionals to negligence claims.
This new course will benefit PI lawyers regarding identifying where the need arises and best practice for their clients and will benefit trusts and private client lawyers in relation to the particularities of PI Trust formation and administration. The course will consider where PI Trusts sit in relation to the overlap between personal injury and private client, along with what that means for agents in terms of joined-up working across specialisms, risk management and opportunity and commerciality.
What You Will Learn
This course will cover the following:
- How to identify the need for a PI Trust
- The common pitfalls for the PI and the Trusts lawyer and how we avoid them
- Best practice considerations during the PI action
- What differentiates a PI Trust and what Trust to use
- Knowing your client and what that might mean for both the PI action and Trust matters (inc. capacity, age, requirement)
- Tax - practical examples of getting it right and getting it wrong
2:00pm - 5:15pm
Please let us know if you wish to be notified when new dates are added for this programme