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Trusts

Private client legal team at ELP Arbuthnott McClanachan who deal with trusts.


Trusts can be created either on death in a Will or during life in a Trust Deed, and are normally used to provide a benefit to beneficiaries while retaining some control over the assets concerned.

This might be appropriate in a number of circumstances. For example, if beneficiaries are very young it might be wise for the funds to be held until they reach a certain age. Beneficiaries might be disabled and receiving benefits which would be lost if assets were passed to them outright. On a second marriage it might be wished to make some provision for a spouse but retain the ultimate ownership for the children at the end of the day. It might be wished to provide protection for assets against divorce or insolvency.

In all of these circumstances Trusts can be useful. It is very important to get specialist advice as there are many complex tax and other consequences of setting up a trust.

At ELP Arbuthnott McClanachan we can discuss with you the merits and disadvantages of creating Trusts and explain both the tax and practical consequences.

If you would like to discuss matters initially we would be delighted to hear from you.  Our Barbara Watson is a very experienced solicitor advising clients on wills, powers of attorney, trusts and executries.  Barbara is also a member of the Society of Trust and Estates Practitioners (STEP).

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We used ELP to help us purchase a flat in Scotland. We live in North Wales so the Scottish legal system was new to us. ELP brought us up to speed with the Scottish process of buying a property and were professional and efficient throughout the whole process. I wouldn’t hesitate to recommend them. They made the process stress free as we knew throughout that they had everything under control as they communicated with us regularly.
Jo Dallas (Trustpilot Review)

Barbara has been absolutely fantastic in drawing up our wills. She was the perfect combination of understanding our requirements alongside challenging our thinking to ensure we now have much more robust plans in place for our estate. It has given us both peace of mind knowing things are in order and I wouldn’t hesitate to recommend her services and that of ELP.

We used ELP for both buying and selling based on personal recommendation. They are up to date with the current state of the market and gave us good advice on what to offer so we were very happy with what we paid for our new flat. When it came to selling the photographers they used for the Home Report were excellent and very painstaking. The schedule they produced was upbeat and attractive. ELP staff gave us regular feedback on the progress of the sale and were always contactable. They offered a highly professional service while at the same time they were friendly and treated us as individuals. A very personal service.

Tiphereth is a medium sized Edinburgh charity, operating in the voluntary sector, offering care and work opportunities to adults with learning disabilities. We use ELP for legal advice and support in human resource issues, and for assistance in drafting letters, policies and contracts. The arrangement makes sense for us financially and is good value for money. ELP have been consistently helpful to our organisation over several years, offering clear legal advice on a wide spectrum of issues, and often doing so at very short notice.

I use ELP to manage conveyancing on investment properties and some of these purchases can be complex and tedious and take time to resolve. Throughout this process the staff are approachable and friendly and the service is always efficient and effective. I continue to recommend ELP to family and friends.

A highly efficient service from the team at ELP. Took the stress out of buying our property.

Thanks Barbara

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