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STEP Journal: June 2014

  • Foreword, Volume 22, issue 5Considering Switzerland’s size, articles in the world press on the subject of its finance industry or political landscape appear with disproportionate frequency.
  • Engaging with the next generationMartyn Gowar discusses the importance of families adopting ‘a culture of engagement’.
  • Plebiscites, referenda and electionsRichard Frimston wonders whether upcoming votes herald more turbulent times.
  • Dutch trust substitutesAnneke Vrenegoor outlines Dutch legal structures similar to trusts.
  • Born in the USA - Larry Heller shares his journey with Sally PercySTEP Council member Larry Heller has played a pivotal role in building up STEP in the US. Here, he shares his journey with Sally Percy.
  • Trustees de son tortAmanda Edwards highlights the potential consequences of defects in trustees’ deeds of retirement, including the invalid appointment of successors.
  • Meeting expectationsJohn Harper takes a critical look at the role of chairperson and offers some practical advice.
  • STEP’s new CPD policyVal Cox explains the three core principles underpinning the revamped policy.
  • STEP moves towards new qualifications structureNigel Race explains the benefits of the forthcoming Qualifications Framework.
  • Life insurance: an industry in fluxHow is the life insurance industry faring in the new era of compliance and transparency? And what are the challenges and opportunities that lie ahead? A panel of experts gathered to thrash out the answers to these questions and more at the latest STEP Journal roundtable.
  • To serve and protect?Russian settlors, wary of the trust concept, may be tempted to appoint Swiss protectors with broad powers to safeguard their interests. But such a strategy is not without perils of its own, warns Dmitry A Pentsov.
  • A say on payMarie Flegbo-Berney reviews the new Swiss regulation on compensation within listed companies.
  • A two-way streetRalph Thiede reviews the tax-planning opportunities under the Liechtenstein and UK double-taxation treaty.
  • Liechtenstein’s trust transplantProfessor Dr Francesco A Schurr examines the Liechtenstein law of trusts, 88 years after the principality imported the concept from the common-law world.
  • The Swiss role in FATCAPeter Cotorceanu and Quan Nguyen consider which FATCA rules apply to Swiss trust companies and their trusts.
  • Imperfect harmonySangna Chauhan and Michael Wells-Greco ask whether the EU Succession Regulation will achieve its goal of promoting greater coherency in cross-border succession law.
  • Unsettling questionsIan Watson considers the treatment of US revocable trusts in the UK.
  • Carving up marital assetsIn this comparative article, the authors provide an overview of the financial consequences of divorce, prenuptial agreements and the death of a spouse in England and Wales, France and New York.
  • Double troubleLeonardo Almeida reviews the double-taxation treaties governing cross-border successions in the EU, and calls for greater harmonisation.
  • Foreign settlor trusts: regime changeMeir Linzen and Guy Katz outline the Israel Tax Authority’s proposed tax settlements for foreign settlor trusts.
  • The downsides of stepping upAlon Kaplan, Lyat Eyal and Shai Dover consider the tax implications for Israeli residents of requesting a step-up in relation to inheritances and gifts from abroad.
  • Israel’s foundationBenjamin Grunberg looks at the hekdesh, Israel’s take on foundations.
  • High stakesDawn Goodman, winner of STEP’s Trusted Advisor of the Year award for 2013, talks to Sally Percy about private client litigation and working with families in crisis.
  • Buzzkill for the taxmanIn light of the taxpayer victory in Buzzoni v HMRC, Georgia Bedworth reviews the UK reservation of benefit provisions.
  • Cretney & Lush on Lasting and Enduring Powers of Attorney - a review by Aileen BarryAileen Barry reviews 'Cretney & Lush on Lasting and Enduring Powers of Attorney'

TQR: June 2014