Personal Injury

sia-goldConçerva are specialists in the provision of advice to the recipients of personal injury awards.

We act for a significant number of clients including Claimants with Deputies, Claimants with Capacity and Court of Protection Protected Parties.

Please see below for more information about each of these areas.

Testimonials are available from previous claimants upon request.

Download Conçerva's Serious Injury Brochure
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Personal Injury Claimants and Deputies

It is our firm belief that financial planning disciplines applied to individuals should also be applied to recipients of Personal Injury awards, and Protected Parties under the Court of Protection where a Deputy has been appointed to manage their financial affairs. Conçerva act for clients who have sustained very serious and life changing injuries and have received substantial awards of compensation and where:

  • Professional or lay deputies have been appointed by the Court of Protection;
  • An injury to the brain has been sustained but with no loss of capacity. These clients are particularly vulnerable and require extra professional support and supervision in the management of their finances;
  • A spinal cord injury has been sustained resulting in paralysis creating special needs for life.

Claimants with Capacity

At an early stage within the legal process, claimants and their legal advisors need to consider putting in place a Personal Injury Trust. We have a “turn-key” package for such cases which include the following features;

  • Preparing the Trust Deed
  • Establishing a trust bank account
  • Short term cash deposit advice
  • Welfare Benefits advice
  • Preparation of a lifetime financial plan
  • Portfolio construction and on-going financial planning, advice and support
  • Annual self-assessment tax reporting

A senior member of the Conçerva team is allocated to provide the initial and on going advice. The adviser will travel to meet with the client at their home. It is our aim to provide continuity of service with a senior member of the Conçerva team and for this to be in a place that is comfortable and convenient for the client.

Court of Protection Protected Parties

For Deputies, the preparation of a lifetime financial plan is vital to bring predictability and provide protection of future income and expenditure whilst at the same time preserving capital.

Deputies also need on going specialist financial planning advice and support. We can offer where appropriate, the same service  provided to Claimants with Capacity as detailed above.

Conçerva have a great deal of experience in these complex areas.  Working with the clients and in conjunction with other professional advisers and representatives, Conçerva will apply its expertise to ensure their financial affairs are efficiently managed and safeguarded on a long term basis.

Case Studies

“A” was a 40 year old man who was in his back garden when the trunk of a very large tree located on adjoining land snapped causing it to fall on him, pinning him to the ground. Unfortunately, he suffered a very serious spinal cord injury.

The serious injury solicitors investigated and obtained expert opinion from an Arboriculturist. He found the tree was badly decayed and he was critical of the Local Authority (which owned the land where the tree was situated) for failing to carry out inspections of their trees.

The solicitors pursued the claim and the Local Authority subsequently conceded liability. He eventually recovered over £1.5 million in compensation in 2007 which enabled him to move into a suitable property and manage his rehabilitation much more effectively.

We became involved shortly after the final settlement and arranged for a personal injury trust to be put in place to protect his current and future means tested benefits. We put in place a tax and financial plan to assist with meeting A’s on-going financial needs. As the financial plan will span a number of decades it needs on-going review and revision. A’s investments are managed by Conçerva and he is visited routinely at home to review the financial plan and his investment portfolio and to ensure any appropriate tax or financial planning action is being taken.

Conçerva also ensure all on-going tax compliance work is completed.

“B” was a 38 year old man with a young family. His vehicle suffered a puncture and whilst retrieving the spare tyre from the boot, having parked upon the grass verge, another vehicle struck him resulting in a catastrophic (tetraplegia) spinal cord and head injury.

The serious injury solicitors investigated and pursued a claim against the other driver whose insurers conceded liability. With the assistance of compensation he was able to relocate to a suitable property, drive a specially adapted vehicle, and employ a team of carers to help him and his family. He eventually recovered £4 million in compensation in 2006.

Conçerva became involved at the pre-settlement when periodical payments were being considered. The financial implications of pursuing periodical payments over a combination of lump sum settlement and periodical payment were analysed and discussed at length with B and the serious injury solicitors.

The client and solicitor agreed that they would pursue the lump sum route. We modelled the future on-going needs of B and agreed a long term financial plan to meet these. We monitor and review the financial plan by way of routine meetings at B’s home. B’s investments are managed by Conçerva and the financial plan incorporates appropriate tax planning

Conçerva also ensure all on-going tax compliance work is completed.

“C” was a 32 year old married man with a professional occupation. In June 2006 he was riding his motorcycle when it was involved in a collision with a vehicle that was executing a right hand turn from the major road into a minor road. Liability was very much in dispute as some of the evidence within the Police Report supported the driver’s contention that he indicated his intention to turn right, prior to the impact. Matters were further complicated by allegations that “C” was attempting to overtake, at a junction, and at a speed in excess of the prevailing speed limit.

Both parties obtained accident reconstruction evidence which contained opinions which were, essentially, diametrically opposed. Our client suffered a minor head injury and a serious spinal cord injury and was rendered a tetraplegic. The serious injury solicitor investigated and eventually recovered a substantial award of immediate damages of the sum of £3,150,000, to assist “C” in relation to many of his future needs. In addition there is a clause in settlement stating that if “C” develops a serious deterioration in his condition due the development of symptomatic syringomyelia, the damages can be reassessed.

Conçerva became involved shortly after the final settlement and arranged for a personal injury trust to be put in place to protect his potential future means tested benefits. This also involved advice on establishing a trustee bank account.   We put in place a tax and long term financial plan to assist with meeting “C’s” ongoing financial needs. As the financial plan is likely to span a significant period of time it needs on-going review and amendment. “C’s” investments are partly managed by Conçerva and partly in a property portfolio by the trustees. He is visited every six months to review the financial plan and his investment portfolio to ensure any appropriate tax and financial planning action is being taken.

We have also advised on “C” taking an ill health pension from his Occupational Pension Scheme and the funding of some of his property portfolio.

Conçerva also ensure all on-going tax compliance work is completed.

In February 2008 “D”, a 28 year old man, was ejected from a vehicle in which he was travelling as a passenger.  The driver lost control and it collided with a tree.  The driver immediately left the scene of the accident before the emergency services and police were called.

“D” was rendered unconscious and suffered paralysis.  A solicitor was initially instructed and the driver’s insurers alleged “D” was in fact the driver of the vehicle and was therefore making a fraudulent claim for compensation. There were no independent witnesses to the incident. The case was referred to Conçerva by the serious injury solicitor who took over “D’s” case and they issued proceedings on behalf of “D” and eventually the insurers backed down and conceded that “D” was a passenger and should be appropriately compensated.

‘D’ suffered a combination of severe brain damage, a spinal injury, a fracture of the shoulder and chronic pain.  The Defendant’s insurers then sought to argue that “D” was exaggerating his symptoms and had not suffered any significant brain damage.

The case was hard fought and very shortly before trial the insurers eventually conceded that “D” had in fact sustained very serious injuries.

“D’s” case was valued at £2,700,000 which was reduced by 25% because he failed to wear a seatbelt at the time of the accident.  The Court confirmed that “D” should receive a lump sum of £956,799 plus a periodical payment of £40,000 per annum increasing in payment.

“D” may be vulnerable to further deterioration in his condition in the future due to either epilepsy (from the brain injury) or syringomyelia (from the spinal injury), in which event he will be entitled to claim further compensation.

Conçerva became involved shortly after the final settlement and arranged for a personal injury trust to be put in place to protect his potential future means tested benefits.  We put in place a tax and long term financial plan to assist with meeting “D’s” ongoing financial needs. As the financial plan is likely to span a significant period of time it needs on-going review and amendment. “D’s” investments are managed by Conçerva. “D” and the other trustee are visited every six months to review the financial plan and the investment portfolio to ensure any appropriate tax and financial planning action is being taken.

Conçerva ensure all on-going tax compliance work is completed.  In addition legal advice has been given to “D” in relation to establishing a new will and a lasting power of attorney.  We have also given advice in relation to state benefits.

“D”‘’ is now making good progress and is re-building his life.

 

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Downloads

Download Conçerva's Serious Injury Brochure
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Download FATCA Requirements PDF
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