Turcan Connell

This Practice Note written by Peter Murrin of Turcan Connell provides an overview of trust administration in Scotland. It discusses guiding principles for trustees, receiving and managing trust property, the importance of record keeping and ensuring the trustees keep track of the trust’s beneficiaries as families grow and develop. Compliance requirements are also covered.

This Practice Note written by Pete Murrin of Turcan Connell considers the manner and form in which a person may be appointed to the office of trustee, including appointment by the settlor and assumption by the continuing trustees. This Practice Note also addresses the ways in which a person may cease to be a trustee, including removal and resignation. The powers of the court under T(S)A 1921, as well as under the nobile officium are also considered.

This Practice Note written by Pete Murrin of Turcan Connell is an overview of the nature of discretionary trusts under Scottish law. The Practice Note discusses the choice of trustees, the definition of potential beneficiaries, settlor guidance, and the taxation of discretionary trusts.

This Practice Note written by Peter Murrin of Turcan Connell Solicitors provides an overview of liferent trusts or trust liferents in Scotland. It discusses their creation and uses, the nature of income and capital interests under a liferent trust, and protective trusts and liferents. The taxation of liferent trusts is also covered.

This Practice Note written by Pete Murrin of Turcan Connell provides an overview of Personal Injury (PI) trusts in Scotland. It discusses the settlement and set-up of a PI trust, the legislative foundation and disregards, general guidance regarding tax consequences as well as the option of periodical payments. Some additional practice points are also noted.

This Practice Note written by Pete Murrin of Turcan Connell discusses the nature and source of Scottish law on the powers and duties of trustees. The role of the court in modifying those powers and duties is also covered, as is the issue of trustees' immunity and indemnity.

This Practice Note written by Pete Murrin of Turcan Connell discusses methods of terminating a Scottish law trust, including revocation by the settlor, termination by the trustees, and termination by beneficiaries. Payment of benefits from the trust and the discharge of trustees are also covered.

This Practice Note written by Pete Murrin of Turcan Connell identifies who are vulnerable beneficiaries, requirements to qualify vulnerable persons trusts and the time of trust formation. It outlines drafting requirements and considerations as well as explaining the taxation of these trusts. The suitability of trusts for vulnerable persons and application generally is also discussed.