Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
As the end of the current tax year approaches now is a good time to review your tax and financial position. Making use of available allowances and exemptions could potentially avoid unnecessary tax payments. There are a number of options to mitigate your exposure to tax and some of these may be applicable to your individual circumstances.
Many couples who plan to divorce live separately for several years. Also, some married couples do not intend to divorce or reconcile and simply live as estranged partners for the rest of their lives. However, staying married to a partner with whom you are no longer in a relationship may have unintended consequences for your estate.
If you are considering setting up a trust in Scotland, we understand that you may have some questions. Trusts can be a useful means of protecting family wealth, providing for loved ones, and mitigating your inheritance tax liability. However, it is important you understand how to choose trustees, and that those trustees understand their obligations. This article provides an overview of some questions about trustees in Scotland.
We are approached regularly by new clients asking us to have a look over trust arrangements which have been set up their behalf, with the help of a former legal advisor. This is frequently in connection with trusts that are branded as ‘Family Protection Trusts’ (or ‘Asset Protection Trusts’). Here are some of the questions we are most commonly asked:-
Murray Beith Murray Private Client Partner, Peter Shand, writes in The Scotsman today. Read the full article below, republished by kind permission of The Scotsman:
