Notifications
Clear all
Scottish Trust Deed Forum
3
Posts
3
Users
0
Reactions
1,233
Views
Topic starter
26/02/2013 1:18 pm
Hi, my friend is worrying himself sick just 12 months into his Trust deed he had accident at work,he is claiming compensation but worried his Trustees will take it all,can they take all his compensation even his loss of earnings.His girlfriend and family helped him out financially,can they claim any monies back.
26/02/2013 1:25 pm
Hello groucho.
Typically much of an accident claim payment will vest in the trustee and need to be paid over into the trust deed.
There might be exceptions where some of the money is needed to fund medical treatment connected to the accident.
If there has been a loss of earnings, and family support to counter this, it would seem as though some commonsense and flexibility might be applied by the trustee.
The starting point for that will be a full and open conversation with the trustee about what has happened.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
26/02/2013 4:01 pm
Hi groucho
I think the Trustee can certainly make a claim on this, although the loss of earnings should be treated as income in the normal way.
I think it is always best to speak with their Trustee and at least work together on this. That way there should hopefully be no big surprises.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
