solicitor and PITF question

#1 2011-02-09 13:26:47
silentg

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Registered:

2011-02-09

Posts: 1

solicitor and PITF question

hi folks, just a quick question.

my accident claim has been going on for the better half of 6 years now. finally in December we agreed a settlement figure. Having spoken to my solicitor he advised me that as I am on state benefits and the amount I have been awarded is above the allowance before my benefits are affected that I should take out a personal injury trust fund. Anyway, as I am a little curious in dealings like this I looked them up online to find they are legitimate smile phewwww
The figure was agreed in december as I said to which my solicitor said it would all be sorted out by the middle of January. I called on the 19th and he told me that it should be arriving any day now, then when he receives the cheque he will call me in to sign some forms for the PITF and jobs a good un.
So, to my question. Is it common place for the solicitor to hold onto the settlement for a while as I have been warned by a few friends that this happens so the solicitors company can gain interest off the settlement.

Having dealt with solicitors befoe in other matters I am aware that they do drag their feet a lot but I am reluctant to keep calling them as I feel like I am a being an annoyance to him. Also, does anyone know roughly how long it takes to set up one of these PITF's?

thanks

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#2 2011-03-13 12:01:53
Injurylawyersuk

Member

Registered:

2011-01-25

Posts: 87

Hi Silent

I am glad you have now reached an agreement in relation to your claim.  My advice is that you listen to the advice given by your solicitors.  I have not personally ever come accross what is being proposed however am aware that trust funds are often used as a way of tax planning and things of the like which is not taken into account when dealing with income tax and things of the like you are explaining.  Providing this is done within the law I see no problem with this however again your solicitors are best placed to deal with these issues for you.

Regards
Matthew Waterfield
INJURY LAWYERS UK LTD
www.freeinjuryclaim.com

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#3 2015-11-21 10:28:39
Maram

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It is apparent and dipnospiating to me that there are no transformative works of crisis software. Neogeography is our framework for doing better.I think we absolutely need academic + developer + operational teams working together. The freely available toolset is growing so rapidly and there are suddenly many approaches to crisis software design. That's great, but I can see several teams working in isolation on the same problems.I think we all need further attention to: 1.) user experience and contextual design 2.)  data portability and the data ecosystem 3.) social design / crowdsourcing technique. In particular I would like to discuss the possibilities of a structured  crisis genome  of data relevant to victims and practitioners.

#4 2016-12-23 11:17:21
Aaron Smith

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Registered:

2016-10-03

Posts: 23

Whether the solicitorÔ??s company will gain interest often depends on the specific nature of your settlement. They have handled similar scenarios for years, and possess necessary knowledge and expertise.But then, you must also read through the terms very carefully and clarify your doubts in advance.

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