Trusts and Succession (Scotland) Bill

# Trusts and Succession (Scotland) Bill Scottish law governing trusts and succession had become outdated in several respects, creating uncertainty and practical difficulties for individuals managing estates and family finances. The law on trusts in particular had not been comprehensively updated for generations, leaving gaps where modern circumstances—such as changes in family structures, business practices, and financial arrangements—were not adequately addressed. Similarly, succession law needed clarification in areas affecting how estates are distributed and how executors and trustees carry out their duties. This bill was introduced to modernise and clarify the legal framework to make it fit for contemporary purposes while maintaining the principles underlying Scots law. The bill made substantial changes across several areas, including introducing new duties and standards for trustees, clarifying the powers and responsibilities of executors, and updating rules around estate distribution. Key provisions addressed matters such as trustee liability and liability insurance, the rights of beneficiaries, the treatment of digital assets, and rules governing intestate succession (when someone dies without a valid will). The bill also sought to provide greater flexibility in how trusts can be structured while protecting vulnerable beneficiaries. Following parliamentary scrutiny and amendment, the Trusts and Succession (Scotland) Act 2023 received Royal Assent, modernising a significant area of Scottish private law that affects most people at some point in their lives.

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