If a successful litigant wishes to set up a PI trust with their £1,000,000 compensation is it possible to place say £325,000 in a discretionary trust and the remaining balance compenstion in a bare trust? Alternatively can only one type of PI trust be used?
Just one type of PI trust. The setting up of a discretionary trust will be treated as being created by the injured party and therefore if they are also a potential beneficiary will be caught as a GROB.