STEP news

STEP news

Elections

STEP worldwide Chair

We are delighted to announce that Kelly Greig TEP, Partner and Head of Estate Planning and Tax at Steele Raymond, has been elected as worldwide Chair of STEP, effective 1 January 2024. Kelly succeeds Tony Pitcher TEP, whose term as Chair ended on 31 December 2023.

On being elected, Kelly said: ‘My focus during the coming months as Chair will be on three main priorities. First, facilitating STEP’s necessary evolution by ensuring that we adapt to the changing needs and expectations of our clients, regulators and other stakeholders.

‘Second, to make STEP a truly global organisation by expanding our reach and influence in regions where we already exist and making the most of new opportunities for growth.

‘Finally, focusing on the next generation by attracting, developing and retaining new members. I am excited and eager to have the opportunity to work with fellow global members to help make STEP stronger, better and more successful.’

Kelly will be supported by two newly elected Deputy Chairs: Rod Luker TEP and Paolo Panico TEP. Congratulations to those elected!


STEP Board

We are pleased to welcome a new board member for 2024, Pamela Cross TEP, who replaces Alan Milgate TEP.

Kelly, Paolo, Pamela and Rod, together with Assad Abdullatiff TEP, Michael Olesnicky TEP, Tony Pitcher TEP and Mark Walley, STEP’s Chief Executive, make up STEP’s worldwide Board of Directors for 2024.

Read more about the elections: bit.ly/3Nvs9xv


New Honorary and Judicial STEP Members

We would like to congratulate our recently appointed Honorary and Judicial Members for 2023. Honorary Membership is awarded to those who have made a unique and exceptional contribution to the field of trusts and estates, whether in their own jurisdiction or internationally. Honorary Membership has been awarded to Gurbachan Singh (STEP Singapore). Judicial Membership has been awarded to Justice Michael Meek, Justice Julie Ward and Registrar Mark Fatharly (all STEP New South Wales); and Justice Geoffrey Lindsay (STEP Western Australia).

View the full list of recipients at www.step.org/join-us/categories


STEP Annual Review 2022–2023 published

The STEP Annual Review 2022–2023 (the Review) is now available on the STEP website. The Review demonstrates just how much progress STEP has made in the past year and showcases all of our achievements. We would be nothing without the members who volunteer their time to make this work possible. Thank you to committee members and fellow STEP members for everything you do. Please do share the Review within your networks.

Read the Review at annualreview.step.org


The STEP Journal is going digital

In May 2024, we will launch a new STEP Journal website, which will replace the print publication.

The digital Journal will feature the same interesting articles on a range of topics, fantastic contributors and high-quality design – but with all the added functionality gained from a digital platform: personalisation, interactivity, search and various other additions. We believe that this shift to a digital-only Journal will create a more dynamic and engaging experience for all our members.


New publications

Decoding Digital Assets: An Overview for Practitioners

STEP has launched a new publication, Decoding Digital Assets: An Overview for Practitioners. This follows on from STEP’s 2021 research report on digital assets and brings together articles and resources we have since produced on this important topic, furthering the conversation and providing resources to help support practitioners. Read the supplement at www.step.org/knowledge-hub/digital-assets-report


TQR: Q4 edition now available

The December edition of the Trust Quarterly Review is now available. In it, we untangle new requirements for the Common Reporting Standard and what they mean for trustees; look at difficulties concerning children, succession and the law of England and Wales; examine what happens when wealth is transferred to Australian beneficiaries; and offer an analysis of the statutory Hastings-Bass jurisdiction in the Cayman Islands. The issue also includes a review of Drafting Trusts and Will Trusts: A Modern Approach, 15th edition.

Read it at www.step.org/tqr


2023 Founder’s Awards winners announced

The STEP Founder’s Awards take place annually. The awards go to exceptional volunteers who have made an extraordinary and outstanding long-term contribution to the Society above and beyond that normally expected of a volunteer.

Congratulations to the 2023 recipients (pictured above, from top left):

  • Ian Macdonald TEP (Professional Development Committee)
  • Bryan Mitchell TEP (STEP Queensland/STEP Australia)
  • Paul Saunders TEP (STEP Manchester)
  • Amanda Simmonds TEP (STEP Yorkshire)
  • Roderik Strobl TEP (STEP Verein)
  • Paul Taylor TEP (STEP Ottawa)
  • Hal Webb TEP (STEP Miami)
  • Corina Weigl TEP (STEP Toronto)

Find out more about the awards at www.step.org/members/founders-awards-2023


Employer Relationships

The STEP Employer Relationships team is delighted to welcome Kinherit, who have recently been accredited as a Platinum Employer Partner (EP) in Bristol, UK.

We are also very pleased to re-accredit Brodies as a Platinum EP in Scotland, UK.

STEP is currently working with 104 EPs in over 500 offices across 40 jurisdictions and continues to benefit from an excellent partner retention rate.

If your organisation would like to work with us, or if you would like to put us in touch with an employer who might be interested in learning more about the Employer Partnership Programme, visit bit.ly/3NYq912


Our latest policy consultations

STEP responded to a supplementary consultation on will reform by the Law Commission of England and Wales on 7 December 2023. This consultation addresses two issues: electronic wills and the rule that an existing will is revoked by marriage or entering a civil partnership.

On 8 December 2023, STEP’s Public Policy Committee responded to the Financial Action Task Force’s consultation on draft amendments to Recommendation 25, which details a risk-based approach to beneficial ownership and transparency of legal arrangements.

The UK government has launched an inquiry into the probate registry in England and Wales to examine the causes of delays and other issues and find ways to improve the service. STEP surveyed members in England and Wales asking for examples of the impact caused by delays at the Probate Service. 100 per cent of respondents identified having observed cases of cancelled house sales, while 64 per cent of respondents also observed cases of financial hardship for beneficiaries.

Read STEP’s consultation responses at bit.ly/41WZ6sw


New STEP-accredited programme with the International University of Monaco

STEP has joined forces with the International University of Monaco to launch a new STEP-accredited programme, International Management of Family Wealth. The course is for practitioners involved in the protection, management and succession of large international estates. The course has been accredited as equivalent to the STEP Diploma, providing an exciting new route to STEP membership for civil-law practitioners.

Please email [email protected] for more information.


Connect with us

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LinkedIn STEP – Advising Families Across Generations

Facebook @SocietyofTrustandEstatePractitioners


Save the date

STEP Alpine Conference 2024

The STEP Alpine Conference will take place on 22–23 May 2024 at the Congress Centre Kursaal in Interlaken, Switzerland. Book your place before 22 March 2024 to secure the early-bird rate. Find out more and view the agenda at bit.ly/48styxt

STEP Benelux Conference 2024

Taking place at the DoubleTree by Hilton Amsterdam Centraal Station on 14–15 March 2024, this conference is a must-attend event for trust and estate practitioners working in Europe. Topics on the agenda include the role of global powers of attorney in Europe, how to navigate the rise of large language models and artificial intelligence, and recent developments in EU state aid cases.

View the full agenda and list of expert speakers at www.stepevents.org/Benelux2024


19th STEP PCAs: Call for entries

Showcase your excellence to peers and clients by entering the 19th Annual STEP Private Client Awards (PCAs). Seen as the hallmark of success in the private client industry around the world, recognition at the PCAs serves as an endorsement of your team, your firm and your jurisdiction. Entries are open until 12 April. View the categories and submission process at pca.step.org

Winners will be announced on 19 September 2024 at the awards ceremony at the London Hilton on Park Lane, UK.


Updated CPD hub

All STEP’s continuing professional development (CPD) resources have been brought together in one place, our CPD hub. Videos have been added on reflective practice and ethics, along with updated guides on these topics and information for members on how to plan and record their CPD. There are also links to a range of supporting information produced by STEP, which members can use to support their CPD.

Any queries should be directed to [email protected]


Correction

In the last issue of the STEP Journal, it was incorrectly stated that Gian Andri Töndury TEP was employed at Umbricht Attorneys. Gian is a Partner at Steinbrüchel Hüssy Attorneys at Law, Zurich, Switzerland. We apologise to Gian for this error.


STEP moves

  • Jing Hu has been appointed Treasurer of STEP China.
  • Stefano Loconte TEP has replaced Marco Cerrato TEP as Chair of STEP Italy.
  • Giovanni Cristofaro TEP has replaced Stefano Loconte TEP as Deputy Chair of STEP Italy.
  • Paola Bergamin TEP has replaced Antonio Longo TEP as Secretary of STEP Italy.
  • Michela Guicciardi TEP has replaced Paola Bergamin TEP as Treasurer of STEP Italy.
  • Alexis Medina TEP has replaced Ana Diaz TEP as Chair of STEP Panama.
  • Yolanda Valdes de Leignadier TEP has replaced Agnes Valderrama Chiari TEP as Deputy Chair of STEP Panama.
  • Thays Herrera de Salas TEP has replaced Stella M Ortiz Chase TEP as Secretary of STEP Panama.
  • Andrew Moore TEP has replaced Mark Osbourne TEP as Chair of STEP Texas.
  • Kevin Keen TEP has replaced Amy Jetel TEP as Deputy Chair of STEP Texas.
  • Jennifer Strauss TEP has replaced Andrew Moore TEP as Treasurer of STEP Texas.
  • Brittain Cunningham TEP has replaced Kevin Keen TEP as Secretary of STEP Texas.

People moves

  • Camilla Wallace TEP has been appointed Senior Partner at Wedlake Bell.

Member offer on Family Offices: The STEP Handbook for Advisers, Third Edition

Now in its third edition, Family Offices: The STEP Handbook for Advisers is a practical guide that steers readers through the family office model, from its inception to the final stage in its life cycle.

New chapters cover family office relevancy, the importance of the family owner’s manual, reputation in the digital age, diversity and inclusion in estate planning, and building and caring for family art collections.

In addition, the book explores the increasing number of important jurisdictions, and features chapters on Australia, Bermuda, Canada, China, the Gulf states, Hong Kong, Israel, Italy, Luxembourg, the Netherlands, Singapore, Switzerland, the UK and the US.

It is edited by Barbara R Hauser and Nicola Saccardo TEP, and is co-published by STEP and Globe Law and Business.

STEP members can get a 20 per cent discount code at www.step.org/books/family-offices-step-handbook-advisers-third-edition