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.
You don’t have to be a philanthropist to leave money to charity in your Will. Every charitable donation counts, no matter how small. Most UK charities promote gifting through Wills. This year sees International Day of Charity take place on 5 September 2022, which presents an ideal opportunity to consider including a charitable donation in your Will.
If you are concerned about how your assets may be distributed after you pass away, you may wish to consider preparing a Letter of Wishes. A Letter of Wishes plays a valuable role when you have left assets in trust for your loved ones and can help trustees to understand how you would like the trust to be managed. While trust deeds and Wills tend to be formal in nature, a Letter of Wishes is an opportunity to express more personal feelings and preferences. In this article, we look at what a Letter of Wishes is, when you may wish to use one, and what you may like to include.
If you have been appointed as a trustee, you may be concerned about your duties and obligations. Trustees are appointed to manage assets on behalf of the trust’s beneficiaries and, as a result, have certain fiduciary duties towards those who benefit from the trust. In this article we provide a brief overview of what trustees must do, the duties that they have, and how they can get advice and assistance in carrying out their obligations.
Estate planning can be a complicated process, particularly when your family structure includes stepchildren. The Scottish Law Commission estimates that around half of all families in the UK are stepfamilies, with one in eight children being part of a stepfamily. It is clear that stepfamilies are not uncommon, and at present, there have been suggestions for changing the law to ensure that stepchildren have the same rights in inheritance as biological and adopted children.
Going through a divorce is never easy and can cause much upheaval to your life and future plans. After you have reached a divorce settlement, you may need to reconsider a number of estate planning matters. Most people include their spouse in their Will and give them Power of Attorney. The law does make some provisions for divorce to avoid unwanted scenarios. However, reviewing your Will and ancillary matters is the only way to ensure that your wishes are carried out. In this article, we look at the key things that you should do after divorce.
