Industry Insight

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Estate Research 200

How do I gather financial information as an executor, attorney or deputy without being able to conduct my usual investigations?

1 June 2020

The Law Society Gazette, published by the Law Society of England and Wales, recently reported applications for grants of probate had fallen by 50 per cent since the beginning of UK lockdown. Initially this seems counter-intuitive, given that the BBC reported a spike in mortality at the beginning of April 2020. A casual review of social media channels would indicate that many private client practitioners are busier than ever.


 

Castleacre 200

An exemption clause protecting trustees can leave the trust vulnerable to claims

25 November 2019

The Trustee Act 2000 imposed a statutory duty on trustees with any unintentional breach of trust, leaving trustees vulnerable to personal and potentially unlimited liability: an uncomfortable reality for anyone taking on this unpaid voluntary role. Castleacre Director Hugo Johnsen examines the impact of exemption clauses on trustees, beneficiaries and trusts.


Is there a future for trusts after CRS?

21 October 2019

With wealth across Asia predicted to rise at a compound annual growth rate of 9.4 per cent to reach USD58.2 trillion by 2023, according to Boston Consulting Group, trusts are naturally growing in popularity. But the introduction of the Common Reporting Standard (CRS) has cast some doubt over the future of these structures in the region. Wendy Yeo TEP, Trust Director at Equiom Singapore, examines the future of trusts after CRS.


Challenges for lay trustees

16 October 2019

Anyone setting up a private trust is primarily seeking to protect assets for the beneficiaries. It is naturally within everyone’s interests to appoint responsible and trusted individuals to manage the trust.


New UK property tax changes introduced from 6 April 2019

6 August 2019

An update on the taxation of UK property including changes brought about at the start of the new tax year. Below is a summary of the main changes which non-UK residents holding UK property need to be aware of. Direct disposals Prior to 6 April 2019, a non-resident individual, company or trust would only be subject to a UK Capital Gains Tax (CGT) charge in limited circumstances, most specifically where UK residential property disposals took place.


A Bahamas LatAm approach driven by innovation

17 July 2019

Only five years ago, the Bahamas launched an innovative piece of legislation, the Investment Condominium Act 2014 , enhancing the jurisdiction’s fund product offerings. This legislation, the first of its kind in any international financial center (IFC), targeted Brazilian multi-market funds. The Bahamas Investment Condominium (ICON) was created to appeal to the Brazilian investment fund market. Effectively it is a civil-law product, introduced in a common-law context, and so its structure is familiar to the Latin American market.


Business from the beach: five golden rules

5 June 2019

You’ve heard of the work-from-home revolution, but how about working from the beach? Global tech entrepreneur Stan Stalnaker is a forward thinker when it comes to flexible working. Here, he shares his tips for how you can swap a dingy office for golden sands…


Seven habits of the new HNWIs

14 May 2019

Young high-net-worth-individuals (HNWIs) are not like their parents. They care about social impact, transparency, security and privacy. To service these digital natives, wealth management advisors need to adapt. Here are seven reasons why… 1. They want their wealth to have a positive social impact.


Four alternative assets young HNWIs are investing in

13 May 2019

Art, bitcoin, action figures – young HNWIs are pushing the boundaries on investment, and wealth management advisors need to keep up We are seeing the emergence of a new generation of internationally mobile high-net-worth individuals (HNWIs); and their behaviours and investment attitudes differ profoundly from those of previous generations.


 

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