#Trusts in @BBCNews @james_oliver_01 @steveswannBBC @nassos_. "irrevocable trusts" does not mean a "trust which cannot usually be amended, modified, or revoked after they’re created". Just that the trust cannot be revoked. Which takes us to...
bbc.co.uk/news/business-…
bbc.co.uk/news/business-…
... "withdrew from the beneficiaries of the #trusts" which indicates what happens with the trust can change. Of course, someone can give up a right under a trust or even the chance of having a right under a trust (often the latter). Withdraw or 'donating'... let's consider...
... "donating beneficial rights to family"... so that would indicate passing an actual right that someone had to someone else but could also perhaps be becoming excluded from the chance of benefitting... but may this is not important point about #trusts...
... trusts are not often not about benefitting from the trust. #Trusts might not even be the most tax efficient way to hold assets. Ownership might be given up. The tax treatment will be the tax treatment. But control is often what a trust retains. And even when not a trustee.
New Scottish rules in force 1 April highlight that control and influence over #trusts can come in a range of guises... …tishcharityandwealthlaw.wordpress.com/2021/12/02/sco…
... and that's before getting into things like 'protectors' and non-trustee positions that can impact decision-making on trusts. Saying that, don't tend to see Scottish #trusts with protectors too often unless using some 'pre-printed' trust deeds.
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