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Lawyers in Edinburgh
Solicitors in Edinburgh
Family Solicitors/Lawyers in Edinburgh

Latest news and insights

Immigration changes – The impact on rural businesses

Fraser Vandal discusses changes to the UK's work visa rules and how these changes will impact rural businesses.

Long awaited Housing Bill introduced to Scottish Parliament

The long- awaited Housing (Scotland) Bill was introduced to the Scottish Parliament on 26 March 2024.

Land Reform (Scotland) Bill introduced March 2024

An overview of the content in Part 1 & 2 of the Land Reform (Scotland) Bill introduced to Parliament on 13 March 2024.

Latest news and insights

13 May 2024 | Time to read: 5 mins

Immigration changes – The impact on rural businesses

By Fraser Vandal

Fraser Vandal discusses changes to the UK's work visa rules and how these changes will impact rural businesses.

13 May 2024 | Time to read: 5 mins

Long awaited Housing Bill introduced to Scottish Parliament

By Stephen Gamba

The long- awaited Housing (Scotland) Bill was introduced to the Scottish Parliament on 26 March 2024.

05 April 2024 | Time to read: 3 mins

Land Reform (Scotland) Bill introduced March 2024

By Robert Scott-Dempster

An overview of the content in Part 1 & 2 of the Land Reform (Scotland) Bill introduced to Parliament on 13 March 2024.

05 April 2024 | Time to read: 3 mins

Gillespie Macandrew announced as Great Glen 2024 sponsor

By Lois Newton

Gillespie Macandrew is delighted to announce its sponsorship of the RSABI Great Glen Challenge 2024.

Trusts

Creating a Trust can be an effective way to manage assets, protect vulnerable beneficiaries, assist in passing family wealth down to future generations and for tax planning purposes.

We can advise on the creation, administration and taxation of Trusts.  Our experienced team includes 18 members of the Society of Trust & Estate Practitioners (STEP), including 10 full members, and two chartered tax advisors.

Find out more about how we can help in the event of a dispute involving a Trust, by clicking here.

Benefits of Trusts

We can help you set up a Trust in order to:

  • Hold assets for young children/grandchildren to safeguard inheritance
  • Hold assets for beneficiaries who may need additional protection because they are financially vulnerable, for example due to disability, incapacity, business risk  or unstable relationships
  • Make appropriate provision for members of a blended family
  • Provide for your grandchildren’s education in a tax efficient manner
  • Assist with planning for residential care costs
  • Hold compensation awards for personal injury
  • Assist with wider tax planning

Trust administration

Our team can assist in the ongoing administration of a Trust, including:

  • Assisting with tax efficient distributions of income to beneficiaries
  • Helping Trustees meet their legal, regulatory and tax compliance obligations through the preparation of regular Trust Accounts, maintaining accurate Trust records and preparing annual Trust tax filings to HMRC
  • Dealing with changes of Trustees
  • Providing advice on varying Trusts and/or assisting with winding up Trusts

Taxation of Trusts

Our team includes Chartered Tax Advisors who can provide you with advice on:

  • Income Tax
  • Capital Gains Tax
  • Inheritance Tax
  • All Property Taxes

We work alongside Trustees’ existing advisers to ensure efficient management of Trust assets for the longer-term benefit of the beneficiaries. We can provide specific guidance on Business and Agricultural reliefs as well as how to manage Trusts assets to maximise available tax reliefs and exemptions.

Key contacts

We understand that your circumstances maybe complex and sensitive and you may feel apprehensive about speaking to a lawyer – we can help.  Our experienced team can guide you through the creation and administration of Trusts.  Get in touch with one our team to find out how we can help you.

All team

Request a free callback

We understand the need for discretion and that you may not be clear on your options or indeed the process of instructing a lawyer. If you would like to arrange for someone in our private client team to get in touch at a time that suits you, please provide a few details.

Gillespie Macandrew have been proactive, creative, diligent and detailed in all work done to date.

The Legal 500

Lawyers in Edinburgh
Solicitors in Edinburgh
Family Solicitors/Lawyers in Edinburgh

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