Trusts in Scotland

View Private Client by content type:

Latest Private Client News

Featured Private Client content

Practice notes
The term 'relevant property' defines a category of trust property which is subject to a special regime for inheritance tax (IHT). As described in...
Read More >
Produced in partnership with Paul Davies of Clarke Willmott 12th Jan
Practice notes
On the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without capacity, in them...
Read More >
9th Nov
Practice notes
Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are either:•non-distributor offshore funds, or...
Read More >
9th Nov
Practice notes
The issue of sham is most likely to be raised by the settlor's creditors or former spouse if the settlor is involved in matrimonial proceedings, who...
Read More >
9th Nov
Practice notes
A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or persons (the trustees) to hold...
Read More >
Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
Practice notes
When trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe application is the best...
Read More >
Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Adele Isaacs of Bankside Chambers 12th Jan
Practice notes
This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust...
Read More >
Produced in partnership with Vanessa Lovell Schrum and Caljonah Smith of Appleby, Bermuda 12th Jan
Practice notes
This Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman Islands, see Practice Note: Private...
Read More >
Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
Practice notes
Trust litigation has been classified as being of three types:•a dispute as to the trusts on which trustees hold the subject matter of the settlement•a...
Read More >
9th Nov
Practice notes
Where a beneficiary either:•is a minor (ie under the age of 18) and unmarried or•has attained majority or has married under that date but is required...
Read More >
9th Nov
Practice notes
Duration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules against remoteness of vesting and against the...
Read More >
9th Nov
Practice notes
Duty to distribute to the correct beneficiariesOn the termination of the trust, the trustees are under a duty to distribute the trust assets to the...
Read More >
9th Nov
Practice notes
When you advise an individual on cross-border issues or offshore tax planning, it is important to establish the 'situs' (ie location) of the assets...
Read More >
9th Nov
Precedents
This partial deed of revocation is made on [date] by [donor] of [address].1I granted a Lasting Power of Attorney for [Financial Decisions/Health and...
Read More >
9th Nov
Practice notes
Liferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both, in the trust property...
Read More >
Produced in partnership with Peter Murrin of Turcan Connell 12th Jan
Practice notes
Express creation of trustsA trust is constituted expressly where the owner of property (the truster) transfers property to trustees to hold for...
Read More >
Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 12th Jan

Most recent Trusts in Scotland content

Practice notes
This Practice Note provides guidance on how the Scottish civil courts are responding to and operating during the coronavirus pandemic, focusing on the...
Read More >
20th Apr
Practice notes
This table below contains an archive of news analysis on Scotland and Scots law developments of general application and those which affect various...
Read More >
14th Apr
Practice notes
Revocation by the settlorTestamentary trustsWill trusts (or testamentary trusts) are capable of being revoked up until they come into effect on death....
Read More >
Produced in partnership with Peter Murrin of Turcan Connell 9th Apr
Practice notes
Appointment as trustee in Will or deedIn practice, trustees are appointed (or nominated) in the relevant or applicable deed of trust. For Will trusts...
Read More >
Produced in partnership with Peter Murrin of Turcan Connell 9th Apr
Practice notes
It is worth noting at the outset that powers will enable trustees to act and give effect to the trust purposes whereas duties will compel trustees to...
Read More >
Produced in partnership with Peter Murrin of Turcan Connell 9th Apr
Practice notes
Civilian origin of Scots trust law and fideicommissumThe law of trusts in Scotland is significantly different from the law of trusts in England in...
Read More >
Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 9th Apr
Practice notes
What is a discretionary trust?A discretionary trust or discretionary settlement is an arrangement created when an individual—or...
Read More >
Produced in partnership with Peter Murrin of Turcan Connell 9th Apr
Practice notes
This is a glossary of common words and expressions used in Scottish private client law with the nearest England and Wales equivalent (where relevant)...
Read More >
9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
Produced in partnership with David Blair, Solicitor at Anderson Strathern 8th Apr
Practice notes
The rules regarding execution of documents governed by the laws of Scotland are contained in:•the Requirements of Writing (Scotland) Act 1995 (RW(S)A...
Read More >
Produced in partnership with David Blair, Solicitor at Anderson Strathern 8th Apr
Practice notes
What is a trust for (or with) a vulnerable beneficiary?A trust for a vulnerable beneficiary will fall into one of two categories:•a disabled person's...
Read More >
Produced in partnership with Peter Murrin of Turcan Connell 9th Mar
Practice notes
Trust administration in practise might be informed by:•the type and nature of the trust•the type of trust property held by the trustees•the identity...
Read More >
Produced in partnership with Peter Murrin of Turcan Connell 9th Mar
Practice notes
General nature of beneficiaries’ rightsThe right of the beneficiaries of a trust is generally considered in Scots law to be only a personal right, but...
Read More >
Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 9th Mar
Practice notes
Express creation of trustsA trust is constituted expressly where the owner of property (the truster) transfers property to trustees to hold for...
Read More >
Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 9th Mar
Practice notes
Under the common law, the opportunities for varying the terms or purposes of a trust are very limited once the trust has taken effect. If the trust is...
Read More >
Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 9th Mar
Practice notes
DefinitionsIt is difficult to find a wholly satisfactory definition of ‘trust’, given the range of situations where trusts arise.The trust does not...
Read More >
Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 9th Mar
Practice notes
What is a Personal Injury (‘PI’) trust?A PI trust is:•any form of legal trust structure•holding payments received in consequence of a personal...
Read More >
Produced in partnership with Peter Murrin of Turcan Connell 9th Mar
Practice notes
Liferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both, in the trust property...
Read More >
Produced in partnership with Peter Murrin of Turcan Connell 9th Mar
Precedents
1Individual1.1Individual or sole trader party designation clause[insert full name of party] of [trading as [insert trading name]] of [insert address]...
Read More >
Produced in partnership with Rachel Oliphant of Pinsent Masons 12th Feb
Q&As
Can a trustee acquire property in Scotland?Section 8 of the Trustee Act 2000 (TrA 2000) permits a trustee (of a trust governed by the laws of England...
Read More >
22nd Jan

Popular documents