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Trusts are used for a variety of purposes.  In tax and succession planning, a trust can be used to pass assets to a beneficiary while retaining a degree of flexibility or control over those assets.

Trusts can also be used to protect beneficiaries who are vulnerable, due to their age or a disability, or to protect assets from the risks of divorce or bankruptcy claims.

Stronachs’ private client team has significant expertise in the creation of trusts, advising on which type is best suited to your circumstances, supporting its creation and the legal transfer of assets, as well as dealing with all issues of tax compliance with HMRC.

Transferring assets has consequences - tax will arise during the life of the trust, and also on the winding up of the trust. Trustees must also prepare accounts detailing funds received and funds paid out, and submit tax returns. Our team can prepare those accounts and tax returns for you, or provide your existing tax and accountancy advisers with the information they require if they wish to do so.

We work with investment managers on investing assets to meet the trust’s needs, and manage payments to beneficiaries, for example to pay education fees for a grandchild. At the end of a trust we will advise upon transferring assets out of the trust to the intended beneficiaries.

Some trust assets may require the input of our colleagues in other departments, for example, we would ask our corporate team for assistance if the trust holds shares in a family company.

 

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Key Contacts

To make an enquiry, please contact a member of staff below or call 01224 845 845

Jaclyn E.P. Russell

Jaclyn E.P. Russell

Partner, Head of Private Client

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linkedin contact
T: 01224 845 858
M: 07884 658 473
E: jaclyn.russell@stronachs.com

Magnus Mackay

Magnus Mackay

Senior Associate, Private Client

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linkedin contact
T: 01224 845 877
M: 07879 518 654
E: magnus.mackay@stronachs.com

Kirsten Anderson

Kirsten Anderson

Senior Associate, Private Client

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linkedin contact
T: 01224 845 899
M: 07552 686 958
E: kirsten.anderson@stronachs.com

Private Client News & Insights

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Budget 2021: Key Points For Private Clients

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Wednesday 3rd March 2021

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Our Opinion - AGCC Bulletin March 2021

Our Opinion - AGCC Bulletin March 2021

Monday 1st March 2021

Is flexibility the key to your future? Jaclyn Russell, partner and head of our Private Client team, features in the latest edition of the Bulletin published by Aberdeen & Grampian Chamber...

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Scotland to move to Opt-Out System of Organ Donation

Scotland to move to Opt-Out System of Or…

Monday 22nd February 2021

On 26 March 2021, the provisions of the Human Tissue (Authorisation) Scotland Act 2019 will come into force.  The effect of the Act is to apply an “Opt-Out” system of...

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Budget 2021 - Start Your Planning Now

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Tuesday 19th January 2021

The Chancellor’s next Budget is due to be published earlier than normal this year, on Wednesday 3 March 2021.  Although no significant details have been published in advance of the Budget...

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Private client team investment in client-focused technology

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Thursday 3rd December 2020

Stronachs launches innovative new service for clients seeking Will drafting services The private client team at Stronachs has joined with legal technology specialist Settify to offer a new, bespoke online option...

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Our Opinion - AGCC Bulletin Nov 20

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Tuesday 3rd November 2020

Paying for Covid-19: Time to make a plan Magnus Mackay, senior associate in our Private Client team, features in the latest edition of the Bulletin published by Aberdeen & Grampian Chamber of...

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Chambers and Partners High Net Worth Guide 2020

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Thursday 9th July 2020

The 2020 Chambers and Partners High Net Worth guide was launched on Thursday 9 July and we are delighted to announce that the Stronachs STEP accredited Private Client team are one of...

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Covid-19 : Easing of Restrictions on Estate Administrations

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Thursday 2nd July 2020

Registers of Scotland are now accepting deceased person’s Wills for registration again, a welcome development in the winding up of estates, ensuring the protection and preservation of Wills following a...

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Potential Reform of Intestacy Rules - Scotland

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Thursday 11th June 2020

Do you know who inherits your estate if you don’t have a Will?  Many people don’t know the answer to this question.  A common misconception is that a surviving spouse or...

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Capital Gains Tax - 30 Day Payment Deadline

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Monday 20th April 2020

CGT - 30 Day Payment Deadline now in effect for some residential property transactions On 6 April 2020, new rules concerning the payment of Capital Gains Tax (CGT) on some residential property...

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Private Client team awarded highest accreditation from STEP

Private Client team awarded highest accr…

Thursday 16th April 2020

Stronachs has been awarded STEP (Society of Trust and Estate Practitioners) Platinum Employer Partner accreditation, the highest of three accreditation levels awarded under STEP's Employer Partnership Programme. To achieve platinum accreditation...

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COVID-19 : New Guidance on Making a Will

COVID-19 : New Guidance on Making a Will

Friday 27th March 2020

The Law Society of Scotland has issued guidance on the correct procedures for Solicitors taking Will instructions from new and existing clients during this period when face to face meetings...

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Powers of Attorney - Updated Law Society Guidance

Powers of Attorney - Updated Law Society…

Monday 23rd March 2020

There has been a recent update to Law Society of Scotland guidance regarding Powers of Attorney While Powers of Attorney ordinarily need to be signed in the presence of a Solicitor...

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Our Opinion - AGCC Bulletin March 2020

Our Opinion - AGCC Bulletin March 2020

Tuesday 3rd March 2020

Looking to the future - digital assets Kirsten Anderson, Senior Associate in our Private Client team, is featured in the March edition of the Business Bulletin - published by Aberdeen &...

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A Power of Attorney … Why?

A Power of Attorney … Why?

Monday 13th January 2020

Fact v Fiction As we enter the 2020s, there are still several myths surrounding Powers of Attorney and their operation.  No one intends to lose capacity, and no one intends to...

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Our Opinion - AGCC Bulletin October

Our Opinion - AGCC Bulletin October

Wednesday 16th October 2019

Can your business survive after you? Private Client partner, Jaclyn Russell, is featured in the October edition of the Business Bulletin - published by Aberdeen & Grampian Chamber of Commerce. 

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Contact Info

ABERDEEN OFFICE
28 Albyn Place, Aberdeen AB10 1YL
Tel: +44 1224 845845

 

INVERNESS OFFICE
Camas House, Fairways Business Park,
Inverness IV2 6AA
Tel: + 44 1463 713225

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