INVESTING DAMAGES AWARDS

Investing in a lump sum and implementing a robust strategy can be intimidating. The difficulties are further exacerbated where capital has come from a damages award.

Many claimants simply do not have the option to earn a living; their award is vital to their future financial wellbeing. As circumstances change over a lifetime, investment plans need to adapt accordingly.

TRUSTEE INVESTMENT ADVICE

We offer an exceptional and bespoke approach towards investing money on behalf of trustees. We are highly experienced, and proud of the client-friendly professionalism that we bring to our work. Not only do we act for many lay trustees, but we are also instructed in investment matters by many professional trustees who value our services.

COURT OF PROTECTION

We offer an expansive range of services for protected beneficiaries and their deputies. Many of our Court of Protection clients are referred to us via their legal advisers and we also act in many cases where a professional deputy has been instructed. We also have experience of dealing with applications, budgets, cash-flow planning, carer cover and family care payments. Trustee / Deputy bank accounts & cash management Bank accounts form the core part of a client’s day-to-day spending, cash flow and income management. We can establish a variety of instant access, term deposit and savings accounts for clients. Most are cheque book operated and can also offer electronic payments and online viewing.

TRUSTEE / DEPUTY BANK ACCOUNTS

Bank accounts form the core part of a client’s day-to-day spending, cash flow and income management. We can establish a variety of instant access, term deposit and savings accounts for clients. Most are chequebook operated and can also offer electronic payments and online viewing.

PERSONAL INJURY TRUSTS

Many claimants are in receipt of welfare benefits at the point of receiving damages; others may be eligible in the future. If they do not receive appropriate advice about the use of personal injury trusts their benefits may be affected when they receive their awards. Legal advisers have a duty to inform claimants of the option to set up a trust in order to protect their benefits situation.

We can assist by providing a written assessment for all clients, and then if viable, arrange a suitably worded trust deed, establish their trustee bank account and deal with the local benefits agency both now and in years to come.

PERIODICAL PAYMENT ORDERS

We have built an enviable reputation in dealing with periodical payments for future losses. We have built our expertise acting for both claimants and defendants in high-value claims. Periodical payments are far from straightforward and we offer expert witness services to assist in this complex area of law and financial planning.

We also carry out annual periodical payment order calculation checks. After reviewing the original court order, we’ll check whether there is a step change involved, that the correct percentile is applied and ensure that we use the correct formula. This gives you and the client peace of mind and ensures that you can safely budget for the year ahead.

ACCOUNTANCY SERVICES

Through NAS we offer the services of professional advisers dedicated to dealing with the accountancy needs of those who have received personal injury damages.

Tax returns

Whether a professional or lay person, deputy or trustee, tax matters can be daunting and time consuming especially if they are not familiar territory. NAS works closely with professional financial advisers to ensure tax bills are minimised, tax returns are completed accurately and submitted on time.

Office of the Public Guardian (OPG) Annual Returns

When a claimant is unable to look after their own finances by reason of mental incapacity, a deputy is appointed. The deputy is supervised by the OPG, and in most cases is required to submit an account to them each year. A report from a Property and Affairs deputy includes a record of money received and payments made on behalf of the individual lacking capacity. NAS works closely with both professional and lay deputies to ensure accurate and timely submission of OPG returns.

Trust accounts

Many personal injury trusts require accounts to be kept by trustees. NAS offers impartial advice to trustees on the requirement for accounts. In cases where accounts are required, they will ensure accurate records are maintained.

Family care payments

Many families opt to continue to care for their disabled relative post-settlement. Often, the family member(s) providing the care will receive care payments from the damages. NAS offer the expertise to liaise with HMRC to ensure the care payments are paid. They also offer the experience of dealing with applications, budgets, cash-flow planning, carer cover and family care payments.

WELFARE BENEFITS ADVICE

Our specialist benefits advice service aims to ease the burden of claiming benefits for clients having to navigate the complex welfare system for the first time. In addition to protecting damages, we offer a benefit ‘health-check’ service which aims to ensure that our clients are receiving every penny to which they are entitled, thus maximising their damages. Our Welfare Benefits Advisor provides representation at appeals and tribunal hearings, assisting to overturn unjust decisions, by applying expert knowledge of welfare benefits law.