Looking after your assets in the form of a Trust
Careful estate planning is vital and our team has extensive experience in setting up and running trusts, which are a great way to protect your assets and your loved ones.
Setting up a trust allows specific assets to be transferred to someone else (Trustees) to be used for a particular purpose and to benefit specific people (the beneficiaries).
This is an effective and flexible way of ensuring that certain assets will go to the people or purposes that you decide, letting you pass on your assets according to your wishes.
There are different types of trust suitable for different situations, including:
- Family Trusts (Discretionary and Liferent)
- Charitable Trusts
- Disabled Beneficiaries Trusts
- Personal Injury Trusts
A tax-efficient trust can be an important tool when looking to protect your assets for the future from things such as Inheritance Tax & residential care costs.
Why set up a trust?
A tax-efficient trust can be an important tool when looking to protect your assets for the future from things such as Inheritance Tax & residential care costs. There are many good reasons for setting up a trust, including:
- Asset protection
- Reduce Inheritance Tax liabilities
- Residential care home fees protection
- Tax efficient inheritance for your children
- Protection against business failure
- Protection against division of assets on Separation and/or Divorce
- Personal injury compensation awarded.
- Protection of assets for those who are disabled or suffer from reduced capacity
What we can do for you
As well as setting up trusts, we can taking care of the day-to-day administration, acting as Trustees and winding up trusts once the remaining assets have been distributed.
Unfortunately, sometimes trust disputes occur, however we are vastly experienced in dealing with these and have one of the largest and most renowned dispute resolution teams in Scotland.
We can also help with submitting a deed of variation which changes a Will after death to let the beneficiaries alter the distribution of an estate.
Get in touch to discuss creating a Trust or Trust fund
Thank you for your enquiry. Someone from our team will be in touch with you in due course.
Our trusts team
We have one of the largest teams delivering personal legal services in Scotland with offices in Glasgow, Edinburgh, Lerwick, Thurso and Inverness. Our experienced and approachable lawyers can handle all types of enquiries and are on hand to discuss your wishes.
We can provide practical advice to create the solution which best suits you and your family and can guide you through the entire process to ensure that you have peace of mind. Our costs are reasonable and we offer practical advice ensuring that you take the best course of action for your circumstances.
If required our team can also help you with other aspects of asset protection, Inheritance Tax, family law, Wills, managing estates and more. Contact our team and let us advise you on the most suitable type of trust for you and your family’s circumstances.
As well as the lawyers listed below we have a team of paralegal and support staff who will also help with your request.
We have teams across Scotland, to speak to a local private client solicitor please call the local number or click on the names below to find out more about their experience. We'll make sure you speak to the correct person depending on your request.
The Brief magazine - guide to personal legal services
The Brief magazine is your guide to personal legal services at Harper Macleod. The magazine aims to keep you in touch with current legal issues that are important to you - the law seldom stays the same for long and we believe that it's important for everyone to be kept advised on the changes that can affect both you and your families.
You can view and download the current edition by clicking here.
We hope you find the magazine useful and informative, and please don't hesitate to get in touch with a member of our team should you have any issues you'd like to discuss further with us.
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