Trusts and Succession Planning

We recognise that each person’s financial and family situation is unique. That’s why our dedicated lawyers will work closely with you, crafting a bespoke plan tailored precisely to your individual needs and requirements. With unparalleled expertise in all aspects of Trust law and taxation, we provide practical, tax-efficient advice on creating, administering, modifying, and concluding your Trust.

Benefit from the extensive legal knowledge of our specialists across the fields of Wills, Estate Planning, and tax law. Whether your assets are located in the UK or scattered across the globe, we have the expertise to assist you.

Take the first step towards securing your financial legacy. Contact Jones Whyte today to explore the endless possibilities of trusts for your financial future.

Why Should You Set Up A Trust?

Setting up a Trust serves various purposes, with the most common being asset protection for those unable to manage their affairs, such as minors who can receive payouts when they reach a specific age, like 18 or 21. Additionally, Trusts can form part of an effective plan to mitigate your tax liabilities and protect assets in the event of future unforeseen circumstances.

Trusts also allow for the establishment of rules that beneficiaries must follow to receive their designated benefits. For example, a charity trust may provide financial support to exceptional scholars or beneficiaries who meet specific criteria.

Furthermore, Trusts offer income-generating opportunities. Properties in Trust can generate rental income, while investments and savings held in trust can yield dividends or interest.

What To Consider When Setting Up A Trust

When establishing a Trust, clarifying your intended purpose is crucial. Whether it’s safeguarding assets for your grandchildren, benefiting the wider community, or providing for a disabled family member, having a clear vision ensures the right model and accurately reflects your intentions in the Trust Deed. Careful consideration should be given to selecting beneficiaries and determining when they can access funds.

Navigating the tax implications of holding assets in a Trust requires expert advice, as different Trust types attract varying tax treatments. Our team can provide comprehensive guidance on the tax implications of your decisions, ensuring you choose the most efficient and tailored model for your needs.

Equally important is the selection of Trustees responsible for administering the Trust. Having faith in their decision-making process is vital. While safeguards can be built into the Trust Deed, you should reflect on the Trust’s operation, your anticipated involvement, and potential pitfalls that may arise. Our team can help you make informed decisions to set up a trust that aligns with your goals and ensures your peace of mind.

Why Choose Jones Whyte?

Choosing Jones Whyte as your Trust management solicitor provides a wealth of benefits. Our specialist solicitors possess extensive expertise in Trust law and Scottish regulations, ensuring tailored solutions that align with your unique circumstances and financial objectives. Whether setting up a Trust, managing existing ones, or navigating tax implications, our comprehensive services cover every aspect of Trusts.

With experience in diverse Trust types, such as discretionary, charitable, and family protection trusts, we guide you through the complexities, offering tax-efficient strategies and expert advice. Our client-centric approach prioritises clear communication, transparency, and prompt responsiveness, ensuring your satisfaction and peace of mind.

Partnering with Jones Whyte means entrusting your assets to a trusted legal team dedicated to protecting your interests, upholding your wishes, and securing the financial well-being of your beneficiaries.

Other services from Jones Whyte

Our team is highly experienced in Estate Planning, from setting up a Family Protection Trust or updating your will after a change in your personal circumstance.

Our services include: