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STEP Journal: November 2019 – Full Issue

  • Foreword - November 2019I think the overpowering purpose of the STEP Journal is to give us additional education so we, as practitioners, can plan and prepare. The latest issue of the Journal confirms this belief. Even when my day job gives me a variety of interesting issues to sort out, I have often gone back to the Journal to give me an overview of a particular issue; this edition should not be any different
  • A workplace reimaginedMargot de Groot asks whether the flexible workplace is really delivering for businesses
  • Freedom to giveDaniel Frajman explores the new rules concerning the political and public-policy activity of charities in Canada
  • RNRB: a new thresholdAnne Hills explains the application of the residence nil-rate band in England and Wales
  • We want you!Applications for vacancies on STEP’s committees of the Board opened on 28 October. Zoe Willenbrock encourages Full STEP members to apply
  • Awarding excellenceAnother year, another dazzling evening at the annual STEP Private Client Awards. Now in its 14th year, the annual Awards ceremony was held at the Park Plaza Westminster Bridge Hotel in London and acknowledged the best of the best in the industry
  • All to play forAs both the US and Canada prepare for elections, Helen Swire asks what significant change is on the agenda for practitioners
  • Point of departureShlomi Steve Levy and Sergei Titorenko highlight tax-planning issues for Americans departing Canada to return to the US
  • The 15-year itchPatrick Harney and Laura Neal examine the interaction of losing deemed-domicile status and the US-UK Estate Tax Treaty
  • Right of survivorshipStephen Sweeney reviews the impact of the Marley case on the loss of the right of survivorship in Ontario
  • Dreading UNI? Try defaultShelly Meerovitch and John F McLaughlin discuss the default method alternative for taxing FNGT distributions in the US
  • What’s in a word?Josh Lewison considers how a US inheritance dispute centred on the definition of ‘grandchild’ might have played out in England and Wales
  • Home away from homeDiane Le Grand de Belleroche on determining the ‘habitual residence’ in two succession cases between France and the US
  • Home securityTasos Coucounis explains the safeguards that exist when investing in immovable property in Cyprus
  • All roads lead to RomeAs private equity experiences rapid growth as an asset class, investors and trustees need to be prepared, writes Charlotte Thorne
  • Family valuesMark Fleming on how advisors can better protect family co-investment vehicles
  • Policy peace of mindJames Hoare looks at some of the key points to consider when drafting an investment policy statement
  • A target for carbon-neutralityDr Quintin Rayer and Dr Pete Walton discuss the Net-Zero Carbon 10 target and the growing importance of investing in a low-carbon future
  • Full disclosureJames Price and Luca del Panta use a recent case in England and Wales to illustrate the importance of full and frank disclosure for ex parte applications
  • TQR: the latest trusts and estates developmentsTQR: the latest trusts and estates developments
  • Cowan v Foreman: Stand still or move forward?Roman Kubiak considers whether stand-still agreements still have a place in modern estate litigation, following the recent decision in Cowan
  • Budget burdenRishabh Shroff provides an update on India’s budget and new beneficial ownership rules
  • First in time takes priority in lienEmma Jordan and Kate Silbermann on the Jersey Court of Appeal decision that provides clarity on the nature of insolvent trusts
  • Book review: Your Digital Undertaker:Exploring death in the digital age in Canada

STEP Journal: October 2019 – Full Issue

  • Foreword - October 2019‘No man is an island, entire of itself; every man is a piece of the continent, a part of the main; if a clod be washed away by the sea, Europe is the less [for it].’ This is an excerpt from a poem by the British metaphysical poet John Donne who lived in the 16th century.
  • Get on boardSTEP’s committees of the Board are recruiting, and applications open on 28 October. Zoe Willenbrock encourages Full STEP members to apply
  • Who’s in control?Paolo Panico takes a closer look at the beneficial owners of companies controlled by trusts and what this means in EU Member States
  • Be careful what you wish forSally Edwards discusses the challenges for trustees when dealing with multiple letters of wishes
  • The psychology of wealthMargaret O’Sullivan explores the personal challenges families face in transitioning their wealth
  • Behavioural investing (part 2)In the second of this two-part article, Andrew Prosser looks at how emotional biases can adversely shape investment decisions
  • When forever is too longAlana Petraske discusses the rise of time-limited philanthropy and leaving a lasting legacy
  • Chattel rules for UK capital gains taxMegan Saksida explains how to approach the chattel rules for UK capital gains tax and highlights the importance of doing two calculations
  • Finding the Holy Grail of employee engagementJenni Hutchinson considers ways to boost employee engagement and reap the benefits of a productive, positive workplace
  • Navigating stormy seasAs the Crown Dependencies align with global transparency and anti-abuse policies, Helen Swire examines the challenges for practitioners
  • A matter of substanceAlice Bricogne and Richard Laignel discuss the impact of new economic substance rules on family offices in Jersey and Guernsey
  • Trust bustingRupert Morris explores the Guernsey Royal Court’s recent judgment clarifying the relationship between Saunders v Vautier and the island’s trust law
  • A step into the void?Ciara Smith on how the Crown Dependencies plan to comply with the EU’s DAC6 legislation
  • When trusts go publicKevin O’Loughlin discusses how the EU’s 5AMLD makes trustee information available to the public and considers what this means for the Crown Dependencies
  • To intervene or not to intervene?Lydia Essa gives her practical perspective on the modern usage of ‘anti-Bartlett’ clauses and when, or if, trustees should use one
  • CDs play alongDavid Dorgan examines the implications of transparency in beneficial ownership information
  • Keeping it in the familySara Adami-Johnson lays out the fundamentals of maintaining and curating a family art collection
  • Strengthening a crumbling structurePetros Fatouros presents a case study in which a lack of adequate tools in Greece led to the devaluation of a family business structure
  • 21st-century wealth structuringAlex Baker and Alicia Dimitrova explain how modern wealth structuring can help families maintain control through generations
  • Change at the topRose Chamberlayne takes a look at the subjects of disruption and professionalising family business boards
  • How to protect a legacyDr Priscilla Mifsud Parker explains how to use succession-planning vehicles to preserve wealth for family businesses
  • 5 steps to successful successionSean Cortis provides recommendations for building an effective family succession plan
  • The age of the digital familyRebecca Bettany looks at how increased connectivity and digital innovation is changing the way families plan for the future
  • Diverse dynastic driversFor global families, managing wealth across one or more jurisdictions engenders numerous complexities. A recent STEP Journal roundtable, sponsored by RBC Wealth Management, examined these challenges
  • Great expectationsJoanna Caen and Richard Norridge look at a recent Hong Kong trust judgment on legitimate expectation and assess the lessons for practitioners
  • The finer things in life (and death)James Russell considers the treatment and protection of unique movable assets in a trust
  • The hair to my kingdomPhilip Youdan explores the obligations on personal representatives in England and Wales when a potential beneficiary emerges claiming to be a biological heir
  • Planning to protectOliver Embley lays out the versatility of protective trusts in succession planning
  • Book Review: Your Business, Your Family, Their Future: How to ensure your family enterprise thrives for generationsBook Review: Your Business, Your Family, Their Future: How to ensure your family enterprise thrives for generations