“My role is to sit alongside clients, working as a team, to enable them to make informed decisions with confidence. Instilling trust is key, and I take great satisfaction from the many decades-long relationships which I have built.”

Malcolm is one of our senior partners, and works in two areas: Private Wealth and Tax, and Charities.

He delivers strategic advice to entrepreneurs, business owners, families and high-net worth individuals on succession and tax planning. This might typically include advice on: the availability of inheritance tax exemptions and reliefs; capital gains and income tax mitigation; creating, administering and closing trusts; the management of the affairs of the elderly and incapable; partnership law; and structures to help manage wealth transition between generations.

Malcolm leads our Charities team. He is familiar with all charitable structures – CLGs, SCIOs, trusts and unincorporated associations – and advises on current regulatory and economic challenges, governance and the use of charitable funds. This might specifically include advice on: establishing and administering a charitable organisation; and constitutional, governance, regulation, accounting and tax issues. Malcolm has a particular interest in educational charities and also advises philanthropists on their giving and structures/reporting related to such.

Malcolm understands how things look ‘from the other side of the table’, as he sits as a charity trustee on the boards of several charities. He is often asked to speak and write on issues on charity law in Scotland, and is the co-author of a practical guide on the subject.

Areas of practice include:

Sector experience includes:

Admitted

1993: Scotland

Relevant experience

Advising a HNWI on succession-planning involving a family business with assets in excess of £300 million.
Advising on cross-border succession-planning for a couple with heritable assets in the UK, France and the US.
Advising US clients on succession-planning around a large Scottish estate, involving the interaction of UK/US Wills and tax compliance.
Advising clients with a large property portfolio (£200 million) on its transfer into a family investment company to aid succession-planning.
Advising executors of a large multi-jurisdictional estate (assets located in the UK, The Caymans and Australia) on probate requirements, liaison with foreign agents and coordination of tax payments in excess of £50 million.
Advising a farming partnership on recasting the partnership agreement with assets of circa £20 million, multiple parties and coordination of a large development gain within the firm.
Advising trustees in a contentious matter involving a life interest trust, multiple capital beneficiaries and an incapable life tenant.
Advising a high-profile charity on an OSCR inquiry into a fund-raising and governance complaint, with potentially very serious consequences for the charity, the case resulting in a very successful outcome for the charity.
Advising a Scottish University on a US legacy to IRR, involving assessing the practical aspects of paying through the University’s US Development Trust, implications of a change of name and amalgamation of original beneficiary in to receiving body, and complexities of US tax in the context of the charity.
Advising a charity established by Royal Charter on a revision to its constitution, through application to the Privy Council.
Advising an educational endowment on a reconstitution as a company limited by guarantee, overseeing the OSCR application and addressing challenges made by potential beneficiaries.
Advising an animal charity on an OSCR inquiry into allegations of governance failings, managing the response, investigating and compiling answers to OSCR’s queries, and achieving a clear result favouring the charity.

“Malcolm Rust is without a doubt one of the leading experts in charity law in Scotland, and provides an exemplary service. His expertise helps our charity to feel supported and ensures our governance is up to date.”

Legal 500 (2024)

Further testimonials

“Malcolm Rust was easy to work with and genuinely caring.”

Legal 500 (2024)

“He provides clear, considered advice and has good listening skills, empathy and understanding.”

Chambers (2022)

“Malcolm always comes back promptly and keeps you updated efficiently. His advice is clear and easily understood.”

Chambers (2022)

“[He has] extensive knowledge, which he communicates in an understandable manner.”

Chambers (2021)

“He is very knowledgeable on all matters to do with the charity sector and provides us with practical advice that we can translate to our everyday business.”

Chambers (2020)