Services - Trusts
We have one of the largest and most experienced trust management practices in Scotland and can advise on the formation of tax-efficient trusts designed to meet a wide range of needs. We can also advise on the variation and winding up of trusts.
Setting up a trust can help to protect assets and save tax at the same time. For example, you might want to leave your niece a lump sum, but you do not want her to spend it on the wrong things. By putting the money in trust, you can be sure that your niece receives the money and that an appointed “trustee” makes sure that the lump sum is spent in line with your wishes. At the same time, you could also benefit from a tax saving.
When a trust is up and running, it needs to be managed. If the trust holds a lump sum, this needs to be invested so that it does not lose value. If the trust holds a house, this will need to be maintained and possibly let out. We can help make the best of the assets held in your trust and keep the paperwork up to date.
Are you a Trustee?
Are you looking for advice on your powers and responsibilities? Perhaps you would like to appoint somebody to make sure that you are complying with the tax rules and regulations applying to the trust? Maybe you want to resign or appoint another trustee to help out. Murray Beith Murray can help you keep on top of your responsibilities and advise you on trust decisions, the appointment of new trustees or the resignation of existing trustees. If you are a trustee of a charitable trust, it is even more important to make sure that you comply with the rules and regulations that apply.
Click here for details on the Hope Scott trust.
Carole Hope Partner
Carole heads up the Executry Group within the firm, where she advises clients on dealing with and transferring assets in the event of a death. She has particular expertise in handling contentious executries and experience of, and an interest in, aspects of cross-border succession.
Carole’s work involves advising on wills and estate planning and she also has over 25 years’ experience of advising charities and charitable trusts, which is underpinned by years of personal involvement in charitable organisations.
Carole is a dual qualified solicitor (Scotland and England/Wales), a member of the Society of Trust and Estate Practitioners (STEP) and a board member of the Franco-British Lawyers Society. She speaks regularly at conferences and seminars on private client issues, cross-border succession and charity law.
Listed in the Legal 500 2013 as a Recommended Laywer. She is also listed in Chambers 2010 as a leader in her field, Carole is described as being “well regarded for contentious probate issues”. She was also the runner up in the “Best Woman Solicitor Managing a Probate Practice” category in the Association of Women Solicitor Awards 2010.
Areas of work
- Contentious executries
- Trust law
- Powers of Attorney
- Estate planning
- Cross-border succession
Peter Shand Partner
Peter is a Partner and advises private clients on Wills, estate and tax planning, asset protection and charity law.
Before joining Murray Beith Murray, Peter worked as a corporate lawyer and he now advises on succession/wealth planning in the context of trusts, companies, partnerships, and other corporate vehicles. Peter’s expertise also covers inheritance and capital gains tax advice.
Peter is a dual qualified solicitor (Scotland and England/Wales). He is experienced in dealing with cross border issues relating to succession planning and trusts and is a member of the Society of Trust and Estate Practitioners (STEP). He also provides general financial advice and has membership of the Personal Finance Society.
Active in the Arts, Peter is currently a non-executive Director of Magnetic North Theatre Productions. He has experience of advising those involved in the charity sector on governance issues, legal structures and the set up/reorganisation of charities.
Areas of work
- Estate planning (including taxation issues)
- Wills and Powers of Attorney
- English law
Further disclosure opportunities
If you hold funds in any of the following “Crown Dependencies” Jersey, Guernsey and the Isle of Man you may receive a letter from your bank or investment manager advising that HM Revenue & Customs have announced a further tax Disclosure Facility for individuals to bring their tax affairs up to date, in advance of an automatic exchange of information between the governments.
Autumn Statement Update
The Chancellor, George Osborne, delivered the 2013 Autumn Statement yesterday with the aim of improving public finances, supporting families, helping businesses to grow and assisting young people to succeed.