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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.

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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Capital Gains Tax - 30 Day Payment Deadline

Capital Gains Tax - 30 Day Payment Deadl…

Monday 20th April 2020

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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

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Powers of Attorney - Updated Law Society Guidance

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Monday 23rd March 2020

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Our Opinion - AGCC Bulletin March 2020

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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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Our Opinion - AGCC Bulletin October

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Chambers and Partners HNW Guide 2019

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Tuesday 16th July 2019

The 2019 Chambers and Partners High Net Worth guide was launched on Thursday 11 July.  The guide ranks the top lawyers and law firms for international private wealth from more than 50...

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Welcome to A New Tax Year

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STEP Journal Cohabitants' Rights July 20…

Tuesday 31st July 2018

STEP Journal July 2018 Jaclyn Russell and Magnus Mackay survey the landscape of succession law and cohabitants' rights in Scotland and discuss the potential for reform.

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Cohabitant's rights in Scotland - a new perspective?

Cohabitant's rights in Scotland - a new …

Monday 30th July 2018

As published within the STEP Journal  Magnus Mackay and Jaclyn Russell survey the landscape of succession law and cohabitant’s rights in Scotland and discuss the potential for reform The succession rights of...

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Property jargon that hits home …..

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We tend to accept that sales people can occasionally use jargon to promote their product or service, and estate agents may do just that to make their properties attractive to...

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Generational Planning - How to keep wealth in the family

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Monday 2nd July 2018

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Business Property Relief - Bringing the future into the present

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Landmark case has couples questioning rights

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Wednesday 20th December 2017

Recent publicity about an English Court of Appeal ruling on the rights of unmarried couples has highlighted the misunderstanding that many people have about their rights following their partner’s death.

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Inheriting a Residential Tenancy

Inheriting a Residential Tenancy

Monday 11th December 2017

The Private Housing (Tenancies) (Scotland) Act 2016 introduces a new type of tenancy in Scotland, under which it is possible for a tenant’s partner or other family members to inherit...

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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

Legal 500uk leading firm 2020