Trusts

Why set up a trust?

A trust can be an important tool when looking to protect your assets for the future from things such as Inheritance Tax & residential care costs.

There are many good reasons for setting up a trust, including: protecting assets, reducing Inheritance Tax liabilities, arranging tax efficient inheritance for your children, protecting against division of assets on Separation and/or Divorce or business failure.

There are often good reasons to set up a trust where Personal injury compensation has been awarded or assets need to be protected for someone who is disabled or suffers from reduced capacity.

What we can do for you

As well as setting up trusts, NewLaw Scotland can help with the day-to-day administration and care of the trust, acting as Trustees and winding up trusts once the remaining assets have been distributed.

Unfortunately, sometimes trust disputes occur, however, we are vastly experienced in dealing with these and have one of the largest and most renowned dispute resolution teams in Scotland.

We can also help with submitting a deed of variation which changes a Will after death to let the beneficiaries alter the distribution of an estate.