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STEP Journal: Issue 3, 2023
Welcome to Issue 3 of the STEP Journal. We shine a spotlight on the Crown Dependencies region, exploring the potential rise of ‘death tourism’ in the Isle of Man, the evolving transparency landscape in Jersey and the benefits of DAOs in Guernsey. This issue also delves into the investment world, with articles covering property, digital assets, art and more.
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Island hopping
Foreword: The British Crown Dependencies (CDs) of Guernsey, the Isle of Man and Jersey are the regional focus of this issue of the STEP Journal.
STEP news
Committee vacancies | Membership renewals | Diary dates
Creating a more inclusive and welcoming organisation
Assad Abdullatiff sets out the results of STEP’s EDI survey
Here, there and everywhere
Helen Bradford-Swire looks at the challenges faced by practitioners managing cross-border estates in an era of increasing global mobility and upheaval
Supporting structure
Matt Litten examines the rising popularity of private trustee vehicles in Guernsey and explores how they have evolved to meet the needs of clients
Unintended consequences
Following an Isle of Man consultation on euthanasia, Paul Beckett asks whether the proposals may result in ‘death tourism’
Balancing act
Vicky Stables addresses the evolving transparency landscape in Jersey
Tour of duty
Kevin O’Loughlin discusses a recent Isle of Man judgment relating to the Quincecare duty of care
A common purpose
Rupert Morris and Shumona Neswar outline the opportunities presented by decentralised autonomous organisations for Guernsey trustees
A great step forward
Yue-En Chong explores the new Office of the Public Guardian Online system, used for the online registration of lasting powers of attorney in Singapore
Substance over form
Matthew Smith examines the trend towards courts invalidating trusts for excessive retention of settlor powers, particularly in the context of asset protection
Worlds apart
Julie Butler and Fred Butler ask where the apart-hotel sits on the trading spectrum in England and Wales
Rolling with the punches
Michael Giraud and Ally Jaulim provide a trustee’s perspective on holding emotive assets
Making a statement
Peter Milnes extols the utility of STEP’s updated sample investment policy statement
The plugged-in trustee
Amy Harvey looks at issues and strategies for trustees in the digital asset landscape
Strategy review
Shelly Meerovitch and Jennifer B Goode present a global roadmap for offshore trusts and ESG investing
Buyers beware
John Curtin and Matthew Newton lay out steps to protect clients’ privacy, reputation and security when investing in property
The art of planning for art
Melanie Damani explains why planning for artworks matters when investing in art
An LP worth a spin?
Julien Dif explores the utility of the Luxembourg limited partnership as a vehicle for alternative investments
Circular reasoning
Stefano Loconte et al detail Italian revenue agency guidelines on the taxation of trusts
Upward curve
John Canady sees cause for optimism in the growth of philanthropy in the Middle East
You only live twice
Jacopo Crivellaro asks what estate-planning considerations could apply to a cryogenically frozen client, with an emphasis on the US
Battle of wills
Álvaro Aznar Azcárate, Alex Burch, Jessica Zama and Sally Dilks on the revocation of wills with international aspects
To remit, or not to remit?
That is the question for non-domiciled individuals in the UK, writes Kevin Winters
Freedom or family?
Andrew McIntyre assesses the impact of changes in French and German law that may limit UK and US clients’ ability to leave assets freely on death
The mother of all conundrums
Steven Kempster et al discuss commercial surrogacy, rights to use genetic material and the legal definition of ‘motherhood’ in a recent British Virgin Islands case
Member Q&A - Wendy Warren TEP
Wendy Warren TEP, Founder and Managing Director of Caystone Solutions, was the winner of STEP Bahamas’ John Lawrence Trailblazers Award at the first-ever STEP Bahamas Conference in March 2023. The award recognises individuals who have ‘carved a path for the future of the industry’.
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