Trusts

Trusts are a flexible and effective way of managing and protecting assets for the benefit of others. In Scotland, a trust is a legal arrangement where assets are transferred to Trustees, who hold and manage them on behalf of beneficiaries in accordance with the terms of a trust deed.

Trusts can be used in a variety of situations, including estate planning, providing for children or vulnerable beneficiaries, protecting family wealth, and managing assets in a tax-efficient manner. They can take effect during your lifetime (a lifetime trust) or be created within a Will (a testamentary trust).

At Neilsons Solicitors, we can provide guidance on whether a trust may be appropriate for your circumstances and how it fits into your wider estate planning. Trust law in Scotland can be complex, and the right structure will depend on your personal, financial, and family situation.