Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Sequestration definition

What does Sequestration mean? In Scottish insolvency practice, sequestration is the bankruptcy process for an insolvent individual or partnership, under which the debtor’s estate is taken into custody and vested in a trustee for the benefit of creditors. It is governed by the Bankruptcy (Scotland) Act 2016. An award of sequestration may follow a debtor application to the Accountant in Bankruptcy (AiB) or a creditor petition to the sheriff court. On award, most assets vest in the trustee in sequestration; diligence is stayed; claims are adjudicated; and assets and income (via any Debtor Contribution Order) are realised to pay a dividend....

Beneficiaries’ rights and remedies in Scottish trusts: personal rights, tracing in insolvency and mixed funds, liferent/discretionary interests, annuities, and the Trusts and Succession (Scotland) Act 2024

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Practice notes

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FORTHCOMING CHANGE :

The Trusts and Succession (Scotland) Act 2024 obtained Royal Assent on 30 January 2024, signalling the first major overhaul of Scottish trusts law in more than a century since the Trusts (Scotland) Act 1921. Most trust provisions will commence only when Scottish Ministers implement the required secondary legislation. By contrast, certain succession measures and aspects concerning the removal of trustees are already in operation. A summary of the key modernising reforms is set out in News Analysis: Trusts and Succession (Scotland) Bill passed. Practice Notes dealing with Scottish trusts and succession will be revised to reflect the new regime in due course.

General nature of beneficiaries’ rights

Under Scots law, beneficiaries are generally regarded as holding personal rights against the trustees, although in some situations their rights resemble a real right in property. Notably, the beneficiaries’ interest outranks the claims of a trustee’s personal creditors where the trustee is sequestrated. In the same vein, trust assets are insulated from the Diligence of a trustee’s personal...

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Yvonne Evans

University of Dundee

Yvonne is a Senior Lecturer in Law at the University of Dundee, specialising in Scots trusts and succession and tax law, particularly capital taxes. She became a full-time lecturer in 2013, having tutored revenue law at the University of Edinburgh since 2004.Before she became a full-time academic, Yvonne trained as a solicitor at Brodies in Edinburgh. She then worked as a solicitor in the Private Client department at Anderson Strathern, progressing to Associate with a Professional Support Lawyer role.Yvonne authored the reissue of the Trusts, Trustees and Judicial Factors section of the Stair Memorial Encyclopaedia of the Laws of Scotland published in 2016. She is a member of the Law Society of Scotland's Tax Law and Trusts & Succession Law sub-committees. She has given evidence to the Scottish Parliament Finance and Constitution committee regarding its devolved tax powers. She represented the Law Society of...

Web page updated on 21/05/2026

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