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STEP Journal: December 2019 - January 2020 – Full Issue

  • Foreword - December 2019 - January 2020The New Year will bring some new challenges to our professions, as has been the case for nearly a decade. The continued legislative and regulatory efforts to increase the transparency of financial markets will inevitably have the side effect of higher complexity and heavier compliance burdens in the way we work.
  • That’s all folks!Richard Frimston explores the obligations to identify a ‘court’ in cross-border succession regulations in Europe
  • A moral investmentSally Edwards discusses the increased focus on moral and ethical investing, and the challenges this presents to trustees
  • Lifting the veilMichael Giraud and Verena Roberts reflect on global transparency legislation developments over the Past five years
  • Advertising your STEP status: new guidanceSarah Manuel outlines STEP’s Professional Standards Committee’s new marketing and advertising guidance
  • Good as goldHarry Rogers considers the benefits of including gold as part of a diversified portfolio of investment assets
  • Time to give backJulie Wynne explores how non-financial philanthropic support can be offered through employee volunteering in Switzerland
  • The R185 form: what to watch out forMeg Saksida identifies the complications that may arise when completing an R185 form in England and Wales
  • Too many executors…Sheena Grattan explains the differences between executor limits in Northern Ireland and England and Wales
  • Heir of sophisticationBerardo Lanci and Adea Meidani outline the key tax issues for advisors related to collecting art in Italy and France
  • Mind over bordersNicole Gallop Mildon and Álvaro Aznar Azcárate discuss the use of LPAs for mental capacity in England and Wales, Spain and France
  • UBO register: coming (very) soonYiota Georgiou and Ioannis Sidiropoulos discuss the creation of a register of ultimate beneficial owners in Cyprus
  • IGT: An end to tax discriminationJavier Frías explains how the Spanish Supreme Court equalises tax treatment of inheritances for resident and non-resident taxpayers
  • Tax treatment in FranceFrédéric Roux explores changes that could impact the tax liability and disclosure requirements of foreign trusts in France
  • Disclosing DAC6Simon Gorbutt discusses the EU’s DAC6 and how its implementation impacts cross-border insurance-based planning
  • Bank on RussiaAsya Andreeva details bank compliance and reporting considerations for Russian clients
  • Are you ready?James Green considers key risks for individuals as financial services firms grapple with implementation of the SMCR in the UK
  • Identifying the beneficial ownerAs Poland implements 4AMLD, Kinga Romanovska and Piotr Augustyniak highlight the risks of improper beneficial ownership reporting
  • US taxation of death benefitsLawrence Brody sets out what estate planners need to know about the US income taxation of life insurance death benefits
  • Brits livin’ in the USAGlobal families are on the increase, with some looking to incorporate a move to the US. A STEP Journal roundtable, sponsored by Schroders Wealth Management US, examined the critical factors advisors need to consider when helping UK clients and their families transition to the US
  • IHT reforms may biteAlexandra Docherty reviews key recommendations from the UK OTS report into potential changes to the inheritance tax regime
  • Unveiling the trust protectorDinesh Menon explores the ‘mysterious’ role of the trust protector and what, if any, its fiduciary responsibilities may be
  • Marriage laws: on the rocks?Rosamond McDowell sets out and puts into context the incoming changes to the registration of marriages in England and Wales
  • Paperless trialsDavid Cadin and Ed Drummond encourage the legal sector to embrace technology
  • Whose skin is it anyway?Julia Burns and Matthew Watson consider the implications of new services in England and Wales allowing individuals to preserve tattoos after death
  • Who died first?James Kemp examines the recent England and Wales High Court case of Scarle, determining the order of death in an elderly couple
  • Book review: A Practitioner’s Guide to Probate and the Administration of Estates Practitioner’s Guide to Probate and the Administration of Estates is a well-written and authoritative guide on the law and practice relating to non-contentious probate and the administration of estates from a practical perspective

TQR: December 2019

  • All over the placeThis edition of the Trust Quarterly Review explores cross-border philanthropy in Europe; New Zealand’s trust law reforms; pour-over trusts in British Columbia; challenges for the introduction of a Swiss trust law; and the legal limits of undue influence in England and Wales
  • Under the influenceA discussion of two England and Wales cases and the relationship necessary to raise a presumption of undue influence
  • A clause in contextClarity on the use and validity of pour-over wills in estate planning following the recent Quinn Estate decision in British Columbia
  • Old wine in a new barrelAn overview of the New Zealand Trusts Act 2019 and how it will impact foreign and domestic trusts
  • Mountain to climbPotential challenges in the implementation of a Swiss trust law
  • Cross purposesLegal frictions in European cross-border philanthropy
  • Book Review: International Taxation of Trust Income: Principles, Planning and DesignInternational Taxation of Trust Income: Principles, Planning and Design