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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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Produced in partnership with Peter Murrin of Turcan Connell 12th Jan
Practice notes
An offshore trust is any non-UK resident trust. The liability of trustees of an offshore trust to UK inheritance tax (IHT) is not dependent on the...
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Produced in partnership with Jenny Wilson-Smith and Emma Haley of Boodle Hatfield 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...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 12th Jan

Most recent Private Client in Scotland content

Practice notes
What is a discretionary trust?A discretionary trust or discretionary settlement is an arrangement created when an individual—or...
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Produced in partnership with Peter Murrin of Turcan Connell 15th Jan
Practice notes
This Practice Note discusses the provisions under section 29 of the Family Law (Scotland) Act 2006 (FL(S)A 2006) relating to the right of a surviving...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 15th Jan
Practice notes
Decisions on creating a charityWhen creating a charity, there are critical decisions to be made about the choice of legal vehicle and on how to...
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Produced in partnership with Gavin McEwan of Turcan Connell 15th Jan
Practice notes
Revocation by the settlorTestamentary trustsWill trusts (or testamentary trusts) are capable of being revoked up until they come into effect on death....
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Produced in partnership with Peter Murrin of Turcan Connell 15th Jan
Practice notes
Why grant a power of attorney?Until the coming into force of the Adults with Incapacity (Scotland) Act 2000 (AI(S)A 2000), it was the case that any...
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Produced in partnership with Dorothy Kellas of Gilson Gray 15th Jan
Practice notes
Protection against disinheritanceWhere a person dies domiciled in Scotland, legal rights form part of the entitlement of the deceased's spouse and...
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Produced in partnership with Jacqueline Leslie of Harper Macleod LLP 15th Jan
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...
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Produced in partnership with Peter Murrin of Turcan Connell 15th Jan
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)...
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15th Jan
Practice notes
In this Practice Note, an incapacitated adult is referred to as the ‘adult’.For information on the legislative framework for guardianships, see...
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Produced in partnership with Dorothy Kellas of Gilson Gray 15th Jan
Practice notes
This Practice Note answers some Frequently Asked Questions about issues arising in the administration of a financial guardianship.Please see Office of...
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Produced in partnership with Dorothy Kellas of Gilson Gray LLP 15th Jan
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...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 15th Jan
Practice notes
CORONAVIRUS (COVID-19): Some of the formal requirements for a valid Will in Scotland have been relaxed during the coronavirus pandemic. See News...
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Produced in partnership with Jacqueline Leslie of Harper Macleod LLP 15th Jan
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...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 15th Jan
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...
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Produced in partnership with Peter Murrin of Turcan Connell 15th Jan
Practice notes
Devolution is the process of pushing down decision-making to lower levels within the nation-state. Specifically, it refers to the process of giving...
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15th Jan
Practice notes
This Practice Note examines the changes to the law of succession created by the Succession (Scotland) Act 2016 (S(S)A 2016). It provides information...
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Produced in partnership with Jacqueline Leslie of Harper Macleod LLP 15th Jan
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...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 15th Jan
Practice notes
Land and buildings transaction tax (LBTT) replaced stamp duty land tax (SDLT) in Scotland with effect from 1 April 2015. This Practice Note provides...
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Produced in partnership with Ronnie Brown of Burness Paull 15th Jan
Practice notes
CORONAVIRUS (COVID-19): Revenue Scotland is not processing paper returns due to COVID-19. Agents are encouraged to make returns through SETS (the...
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Produced in partnership with Ronnie Brown of Burness Paull 15th Jan
Practice notes
The tracker is split into two main parts:•tracking by country, which is split down into:◦Wales◦Scotland, and◦Northern Ireland, and•tracking by tax,...
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15th Jan

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