Trusts and Estate Planning Solicitors | Aberdein Considine Legal

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Trusts & Estate Planning

We can assist you with establishing a trust, which can help both protect assets and save tax.

Significant gifts are only subject to Inheritance Tax if the person making the gift fails to survive for seven years.

This means that there is a great deal of sense in starting the process of transferring assets as soon as you can afford to do so.

Of course, you may feel uncomfortable about making over significant assets to someone who is relatively young. Alternatively, you may be keen to start transferring assets to the next generation, but are not yet sure of the exact division of particular assets.

The use of a trust is an extremely effective method of reducing the value of your own estate, without necessarily losing control over what happens to the assets transferred.

Why use 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 awards; and
  • Protection of assets for those who are disabled or suffer from reduced capacity

How we can help

Our trusts and estate planning team is able to advise on the setting up, ongoing administration and winding up of trusts.

The team is also able to provide advice to trustees in order to ensure that that they understand their rights and responsibilities.

We are also able to advise beneficiaries in connection with any interest they may have in a trust.

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  • "Fast, efficient and friendly service. All referred clients are treated in the same way regardless of income or wealth; made to feel important, with their needs and desires listened to and swiftly acted upon."

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We are authorised and regulated by both the Law Society of Scotland and the Solicitors Regulation Authority (registration number 628245). We are also accredited Investors in People, the winners of multiple awards and registered holders of several ISO international standards.

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