Trusts & Estate Planning

We can assist you in planning the most effective and efficient way to protect your assets and pass on your wealth to your intended beneficiaries.

Significant gifts are normally 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 or in a vulnerable position. 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 can be an extremely effective method of reducing the value of your own estate, without necessarily losing control over what happens to the assets transferred, in terms of how they are managed, and who benefits and when.

It is also common for trusts to be set up in wills, for the management of funds due to young or vulnerable beneficiaries or for flexibility for beneficiaries when it comes to their own succession planning.

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 (including where those may be a concern for your intended beneficiaries, rather than for you). 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 Private Client department has extensive experience in advising clients as to the tax treatment of gifts and the exemptions and reliefs available.

Where the use of a trust is appropriate, our Private Client department is able to advise on the setting up, ongoing administration and winding up of the trust, and to assist trustees to ensure 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.


This service is available to clients in Scotland only