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.
When someone dies, there can be an expectation amongst family members that they will automatically receive a share in the estate. Regrettably, that is not always the case. Misunderstandings often lead to arguments and disputes in the family, which is the last thing the family of the deceased need at a time of great sadness. That is why it is sensible to try to reduce family conflict with a Will.
Beneficiaries are those entitled to share in the estate of someone who has died. Beneficiaries receive their inheritance either through the Will of the deceased or, where the deceased did not make a Will, through the rules of intestacy.
If you have set up a trust or were appointed as a trustee many years ago, you may be unsure of the importance of reviewing the trust assets and trust management. Historically, some Trusts have required minimal trust management, which can lead to a failure to review. However, it is essential that trusts are reviewed regularly to comply with the law and your obligations as a trustee. In this article, we provide you with an overview about the importance of trust reviews, how often you should review a trust and the dangers of failing to do so.
Murray Beith Murray Private Client Partner, Andrew Paterson writes in The Scotsman today. Read the full article below, republished by kind permission of The Scotsman:
Executors who have been appointed under a Will in Scotland hold a very powerful position with many duties and obligations. They have been chosen by the deceased to carry out a specific role because they have been trusted to administer the estate correctly and in line with the deceased’s will. When an executor has been chosen, it is presumed that they are the right person to carry out this role and as a result, it can be challenging to remove an executor from their position. Unless the executor agrees to resign, they may only be removed from their position by the court. In this article, we look at why you may wish to remove an executor, and the court processes for doing so.
