Why are my Damages Award different from my other capital?

Personal Injury Damages awards are calculated using certain legal principles. In summary, the idea of ‘not a penny more, not a penny less’ over your lifetime has been applied to the calculation of your award. It is therefore crucial to remember that there is a risk that your damages may run out before you die. This principle may be further affected if you have agreed your settlement by compromise or there were liability issues surrounding the circumstances of your accident. Clearly, the idea of running out of money before you die is not ideal and as such, specialist investment advice is required.

What about my State Benefits position?

Any capital that you hold can have an effect on the level of state benefits which you receive, or are entitled to. If you receive an award in respect of a personal injury, you may be able to protect this entitlement in various ways, including the use of a Personal Injury Trust. Click here to visit the Personal Injury Trust section of this website. When considering the investment of your personal injury damages award, the way that you hold your compensation needs to be actively considered.

How can I ensure that my damages last for as long as possible?

It is important to plan and budget for your longer-term needs. The objective ought to be ensuing that your damages award if prudently managed and that you have a clear understanding of risk and reward. Often, simply leaving capital in a bank or building society account will not be sufficient as you need to take into account inflation and wage costs into the future. By planning, and putting into place long-term strategies, you can ensure that your damages last for as long as possible.

How do I get the right advice?

Finding the right adviser for your damages award can be difficult. There are very few ‘experts’ in this area who fully understand the principles of personal injury damages and the things that can be put in place in order to protect your financial position. You chosen adviser needs to understand your position as comprehensively as possible before giving you any advice. Furthermore, as your circumstances change over your lifetime, your adviser needs to adapt your financial position when required.

How can Nestor Partnership can help?

Unrivalled expertise is at the centre of our investing personal injury damages service. We have developed both legal and investment knowledge of the issues surrounding such damages awards and we are confident that our service is unsurpassed within this highly specialised field.

Please contact us to find out more about the range of comprehensive personal injury investment services that we offer.