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HMRC internal manual

Trusts, Settlements and Estates Manual

From
HM Revenue & Customs
Updated
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Legal background to trusts and estates: setting up a Scottish trust

There are two main ways to set up a Scottish trust. They are

  • between the living, and
  • by the terms of a will.

Scottish intestacy law does not create trusts.

Between the living (inter-vivos)

The trust comes into being during the lifetime of the person who set it up. That person is called the truster.

By the terms of a will

The trust is called a testamentary trust.