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STEP Journal: November 2018 - Full Issue

  • Foreword - November 2018
  • The confusion of EuropeRichard Frimston details the EU unions, councils and courts, and the protection of its common peoples
  • Growing old gracefullyMichael Giraud and Steve Gully look at the challenges of applying modern standards of administration to structures that were set up in the last century
  • Disclosure or education?Sally Edwards argues that increased transparency between trustee and settlor may lead to a reduction in disputes
  • ‘What if…’ questionsBetsy Brill highlights how changing life circumstances can be an opportunity for clients to review their philanthropic planning
  • Far from settledAmbiguity in rights of residence in Northern Ireland is the starting point for many disputes, writes Sheena Grattan
  • Mismatch of principlesHelen Swire reviews the impact of recent legislation on citizens of the US and Canada – wherever they live in the world
  • Modern familiesUnderstanding polyamorous relationships and their judicial recognition, by Adam Black
  • Taking the bite out of UNIWhen the grantor of a foreign grantor trust passes, the resulting shift in tax status may trigger punitive tax measures, write Shelly Meerovitch and John F Mclaughlin.
  • Deep freezeDavid A Altro and Hadielia Yassiri explore The US tax implications of Canadian estate freezes
  • A fiduciary’s survival guidePaul Foster Millen and Peter Cotorceanu offer advice on the upcoming FATCA Responsible Officer Certifications
  • Penalty!Kim G C Moody looks at Canada’s draft legislation to implement new trust reporting rules
  • Double troublePatrick Harney and George Mitchell explore the options for mitigating double taxation of US citizens who are UK-resident beneficiaries of US trusts
  • Time to actTodd D Mayo examines the New Hampshire Foundation Act and its recent amendment
  • Growing obligationsDennis S Ryan analyses Canada’s response to changing global standards
  • A simpler and safer strategyMelvin A Warshaw and Lawrence M Lipoff discuss a key change to the US Tax Cuts and Jobs Act of 2017, and assess what it means for advisors to trustees of foreign grantor trusts
  • Tasting tipsSamuel Knight and Rodney Birrell assess the benefits of investing in fine wine
  • Beyond the bottom lineKeeping an eye on environmental, social and governance factors can yield more than just a clear conscience, writes John Soler
  • In crypto we trust?Helen Cox examines the key considerations for trustees when administering a trust that holds cryptocurrency
  • Paradigm shiftCharlotte Thorne looks at the practicalities of capturing emerging market exposure by investing in developed market equities
  • Rebels with a cause‘Next-generation’ clients often have radically different goals to their parents, and may reject wealth management industry norms. So how can advisors remain relevant? Amer Vohora takes a look
  • Regime changeUlf Bergquist and Richard Frimston preview the upcoming EU Matrimonial Property Regimes Regulation
  • A progressive shiftAs family trends change, so too do family offices. A recent STEP Journal roundtable, sponsored by SANNE, examined the current trends and the impact of increasing global transparency on family offices
  • The straw that broke the camel’s back?The judgment in Owens v Owens may lead to a long-awaited and much-needed reform of the UK’s divorce law, writes Harriet Errington
  • TQR: the latest trusts and estates developments
  • Book Review: Business Families and Family Businesses: The STEP Handbook for Advisers, 2nd edition

STEP Journal: October 2018 - Full Issue

  • Foreword - October 2018
  • Policy update: Beneficial ownershipEmily Deane reviews the Financial Action Task Force’s approach to improving the transparency of beneficial ownership
  • Equity and equality are not the same thingMargaret O’Sullivan advises practitioners to remind clients of this crucial factor when determining their children’s inheritance.
  • The practitioner’s conundrumKevin Custis stresses the importance of building safeguards into the asset nomination process to prevent outcomes opposing a client’s intention
  • Legacy building for family businessesJulie Wynne explains why charitable holding foundations are an efficient tool for family businesses and furthering social impact.
  • Thriving at workGemma Copestick and Laura Keith outline strategies to improve mental health and productivity in the workplace
  • Our reputation is at stakeIt is the practitioner’s duty to be transparent about the risks of creating trust structures as a means of asset protection, writes Michael Young
  • Calm amid the stormAs increased transparency affects all jurisdictions globally, Helen Swire examines what the Crown Dependencies are doing to remain competitive centres of wealth management
  • Consequential driftRobert Dobbyn considers whether indemnities are necessary for outgoing council members of Jersey foundations
  • The battle of Hastings-BassAnthony Williams revisits the application of the Hastings-Bass principle in Guernsey
  • Act of claritySiobhan Riley and Andreas Kistler explain the newest amendments to Jersey’s trust law
  • Wording is lawTodd McGuffin considers recent appellate guidance on the effect of trustee limitation clauses in the commercial context
  • Riding the wavesDavid Larkin and Ella Pinnock examine what the future holds for the private wealth industry in the Crown Dependencies
  • Do you trust your governance?Cindy Radu outlines the advantages of adhering to the principles of governance in a family trust environment
  • Bonds and tiesClare Stirzaker and Maria Villax outline the importance of governance for business families
  • The re-generation gameRupert Phelps explores how multi-generational families may protect and preserve legacy values
  • High finance for family businessesRichard Norridge, Mark Geday and Neil Blake examine the options available to founders of family businesses seeking long-term finance solutions
  • Pinnacle or milestone?Anton Seatter and Peter Johnson discuss the practical implications of the EU’s 5AMLD
  • Roadblocks to abuseIt is the practitioner’s duty to ensure the elderly client is not taken advantage of, writes Ann Stanyer
  • When tragedy strikesPetros Fatouros outlines the legal and operational framework of guardianship for incapacitated clients in Greece
  • Sorry state of affairsMarilyn Bell discusses how family law does not always reflect 21st-century living
  • House of the rising fundsPaul Saunders identifies the risks for the trustees of property in trusts, and the potential need for financial reserves, should a beneficiary fail to fulfil their obligations
  • Connecting the dotsRoderick Balfour outlines how advisors can help families with US connections achieve satisfactory outcomes on the US tax front
  • On the rocksStephen Lyon considers how to protect inheritances in the event of a contentious divorce
  • In STEP with womenHow can the private wealth management industry best support female employees and serve female clients? A recent STEP Journal roundtable, sponsored by RBC, examined the topical question of gender equality
  • The long arm of HMRCDawn Register and Helen Adams explain the draft UK legislation that lengthens assessment time limits
  • Book Review: Probate Practitioner’s Handbook, eighth edition