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TQR: June 2014


STEP Journal: May 2014

  • Foreword, Volume 22, issue 4 - A welcome from Stanley A Barg
  • Beauty parades: don’t you hate them?Nobody enjoys beauty parades, but clients can make them better by doing their homework beforehand, writes Martyn Gowar.
  • The EU in 2014: the Home ProgrammeRichard Frimston considers the EU Succession Regulation and choice of law.
  • Italian trust alternativesMartina Moscardi takes a tour of Italian structures similar to trusts.
  • Golding for CanadaRecently elected to represent Canada on STEP Council, Nancy Golding QC TEP is a current member and former chair of the STEP Calgary Branch, a former director on the STEP Canada Board, and is present Chair of STEP Canada’s Membership Services Committee. Here she talks to Hannah Downie about the effect US policies and domestic initiatives will have on Canadian TEPs, and the challenges STEP faces in trying to achieve a truly global outlook.
  • Preferential treatmentJohn Harper provides an overview of preferred stocks and their various incarnations.
  • Receipt by minors How should a personal representative proceed where a legacy is due to a minor under a will that lacks a minor’s receipt clause? Amanda Edwards explains
  • New CPD resources for membersVal Cox introduces three new resources, available for free on the STEP CPD Centre.
  • Wrestling with WESA
  • Portability: a game changerLouis A Mezzullo reviews the US provisions relating to ‘portability’ between spouses of the unused applicable exclusion amount.
  • Canada’s FATCA pactMark Fleming and Ralph Awrey consider the facts and implications of the US and Canada’s intergovernmental agreement.
  • Revenge of the NRTsJason Trenton and Michael Rosen-Prinz explain what Canadian non-resident trust rules mean for US practitioners.
  • A clearer test of capacityKathleen Cunningham considers Canadian legislation that explicitly sets out when an adult is incapable of appointing a decision-maker.
  • Suffering for your art?Dr Ariel Sergio Goekmen outlines the risks associated with alternative investments.
  • Papering over the cracksMartyn White looks at the risks associated with owning paper gold.
  • How alternative is gold anyway?Robin Newbould looks at the oldest investment known to man.
  • Budget briefingHarry Joffe highlights some of the more interesting announcements in South Africa’s 2014 Budget.
  • Succession lessonsAs a growing number of Middle Eastern family businesses seek advice on succession planning, James Howe offers some tips for practitioners.
  • Will India embrace the prenup?Samira Varanasi and Abhinav Harlalka review the enforceability of prenuptial agreements in India.
  • Tax evaders unveiledEkaterina Butler examines the Russian Commercial Court’s approach to piercing the corporate veil in cases of tax evasion.
  • Under the cloak of multiformityJavier Enrique Ayuso gets to grips with Nevis’ Multiform Foundations Ordinance.
  • A word from the wisePhilip Marcovici TEP won STEP’s Lifetime Achievement Award at the STEP Private Client Awards 2013–2014. Here he talks to Hannah Downie about some of his career highlights, and how STEP has helped to shape the industry.
  • Lost in a moral mazeTom Glanville discusses ethics, morals and investment policy statements.
  • Managing threats to wealthEducation and flexibility are key to keeping wealth in the family, write Charles Gowlland and Frank Akers-Douglas.
  • A perfect matchDavid Bell offers some pointers for trustees seeking a wealth manager capable of meeting the needs of multi-jurisdictional clients.
  • Administrator auditionsNadine Whyte discusses the appointment of an administrator for the estate of a member of a BVI company who died intestate and domiciled outside of the BVI.
  • Separation anxietyThe Law Commission’s report on ‘Matrimonial Property, Needs and Agreements’ makes welcome recommendations for reform, but many questions remain unanswered, writes Tracey Dargan.
  • Painting or plant? Ann Stanyer examines an ‘extraordinary’ case in which a famous painting was deemed to constitute ‘plant’, and outlines the tax reliefs available in the UK for owners of high-value heritage assets.
  • Drafting Trusts and Will Trusts in Scotland: A Modern ApproachJames Kessler’s seminal work Drafting Trusts and Will Trusts: A Modern Approach is now in its 11th edition, and has encompassed its tenth jurisdiction with the publication of this Scottish version, co-written with Glasgow-based STEP member William Grant TEP.