Wright Johnston and Mackenzie Solicitors


Looking after your money and your family.

A trust allows you to hold assets for the benefit of another person without giving that person control of the assets. Trusts can be very useful if you want to pass on assets to your children or even grandchildren but are worried that they might not use those assets as wisely as you would like them to. They can also be used to reduce your likely Inheritance Tax bill, protect family assets or to look after a family member who might not be able to cope with financial matters themselves.

Usually, a trust is established when a person (called the Settlor) gives assets to another person or group of people (called the Trustees) to hold for the benefit of a third person or group (called the Beneficiaries). The Settlor can set out instructions for the Trustees about any matters he or she feels are important, such as:

  • how they should manage the assets;
  • how the assets should be divided between the Beneficiaries; or
  • how old the Beneficiaries should be before the Trustees pass any of the assets on to them.

Whatever your goal, trusts could be a useful part of your planning strategy and we can help you to identify which type of trust is most suitable in your particular circumstances.