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Personal Injury Trust Deed

Personal Injury Trust Deed Template for Ireland

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Key Requirements PROMPT example:

Personal Injury Trust Deed

"I need a Personal Injury Trust Deed for a €500,000 settlement to be received in March 2025, where the beneficiary is a minor with special needs, requiring provisions for professional trustees and specific healthcare expenditure guidelines."

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Document background
A Personal Injury Trust Deed is essential when an individual receives substantial compensation from a personal injury claim in Ireland. This document is typically used when there's a need to protect the compensation amount while ensuring proper management and distribution of funds. The trust deed establishes the legal framework for managing the compensation, protecting the beneficiary's interests, and potentially preserving their entitlement to means-tested benefits under Irish social welfare law. It outlines trustee powers, investment guidelines, and administrative procedures while complying with Irish trust law and taxation requirements. The document becomes particularly crucial in cases involving significant settlements, vulnerable beneficiaries, or where professional asset management is required.
Suggested Sections

1. Parties: Identifies the Settlor (usually the injured person or their litigation friend), the Trustees, and the Beneficiary

2. Background: Sets out the context of the personal injury compensation and the purpose of establishing the trust

3. Definitions: Defines key terms used throughout the deed, including 'Trust Fund', 'Trust Period', and 'Beneficiary'

4. Declaration of Trust: Formal declaration establishing the trust and confirming the transfer of the settlement funds

5. Trust Powers: Details the specific powers granted to the trustees in managing the trust fund

6. Trustee Provisions: Sets out the rules for trustee appointment, retirement, and replacement

7. Administrative Provisions: Covers day-to-day management of the trust including meetings, decisions, and record-keeping

8. Investment Powers: Specifies the types of investments trustees can make and investment criteria

9. Beneficiary's Rights: Details the beneficiary's entitlements and how they can access the trust fund

10. Duration and Termination: Specifies the trust period and circumstances for termination

Optional Sections

1. Incapacity Provisions: Additional provisions for cases where the beneficiary lacks or may lack mental capacity

2. Minor Beneficiary Provisions: Special provisions when the beneficiary is under 18 years of age

3. Social Welfare Protection: Specific clauses to ensure the trust structure protects means-tested benefits

4. Additional Beneficiaries: Provisions for including family members or dependents as additional beneficiaries

5. Professional Trustee Provisions: Additional clauses when professional trustees are appointed, including remuneration

6. Letter of Wishes: Guidance section for when the settlor wishes to provide non-binding guidance to trustees

Suggested Schedules

1. Schedule 1: Trust Fund: Details of the initial trust property and any subsequent additions

2. Schedule 2: Trustees' Powers: Comprehensive list of specific powers granted to the trustees

3. Schedule 3: Administrative Provisions: Detailed procedures for trust administration and trustee meetings

4. Schedule 4: Investment Guidelines: Specific investment parameters and restrictions

5. Schedule 5: Trustee Remuneration: Details of any professional trustee fees and payment arrangements

6. Appendix A: Confirmation of Advice: Confirmation that appropriate legal and financial advice has been received

7. Appendix B: Settlor's Letter of Wishes: Non-binding guidance from the settlor to the trustees regarding trust management

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Trust Fund
Settlement Date
Trust Period
Trustees
Settlor
Principal Beneficiary
Additional Beneficiaries
Personal Injury Compensation
Trust Property
Vesting Day
Perpetuity Period
Investment Adviser
Professional Trustee
Lay Trustee
Trust Income
Capital
Accounting Period
Proper Law
Irish Revenue Commissioners
Incapacity
Letter of Wishes
Trust Documents
Social Welfare Benefits
Means-Tested Benefits
Financial Year
Trust Expenses
Investment Powers
Administrative Powers
Termination Date
Excluded Person
Relevant Industries

Legal Services

Financial Services

Healthcare

Insurance

Social Care

Wealth Management

Trust Services

Relevant Teams

Legal

Private Client

Trust Administration

Wealth Management

Personal Injury

Tax Advisory

Social Welfare Advisory

Compliance

Risk Management

Relevant Roles

Trust Lawyer

Personal Injury Lawyer

Legal Executive

Trust Administrator

Financial Advisor

Wealth Manager

Social Welfare Advisor

Tax Consultant

Trust Manager

Professional Trustee

Legal Partner

Private Client Advisor

Industries
Trustee Act 1893: Primary legislation governing trustees' powers and duties in Ireland, including investment powers and responsibilities
Land and Conveyancing Law Reform Act 2009: Contains modern provisions regarding trust law and trustees' powers in Ireland, particularly regarding land held in trust
Succession Act 1965: Relevant for considering how the trust assets interact with succession rights and estate planning
Capital Acquisitions Tax Consolidation Act 2003: Governs taxation aspects of trusts and relevant exemptions for personal injury settlements
Assisted Decision-Making (Capacity) Act 2015: Important for cases where the beneficiary has reduced capacity or needs support in decision-making
Social Welfare Consolidation Act 2005: Relevant for understanding how personal injury trusts interact with means-tested benefits
Taxes Consolidation Act 1997: Contains provisions regarding taxation of trust income and capital gains
Civil Liability Act 1961: Fundamental legislation regarding personal injury claims and settlements in Ireland
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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