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STEP Journal: Issue 2, 2020

06 April 2020

Welcome to Issue 2 of the STEP Journal. The cover feature takes us through the intriguing history of the England and Wales Court of Protection and how it has evolved over the years. This issue has a regional focus on the Caribbean and Latin America, covering Colombia's new tax reforms, important changes to Belize's economic substance legislation and new laws in the Cayman Islands to assist in estate planning and healthcare decisions.

This year, the term ‘20/20 vision’ is being used liberally

STEP News - Issue 2, 2020

Who guards the guards?

International standards are seeing a move towards greater alignment. Helen Swire looks at the evolution and importance of global regulatory bodies

Book review: The EU Regulations on Matrimonial and Patrimonial Property

Dedicated entities v DAFs: the pros and cons for clients

We all recognise that giving away money is simple: write a cheque, put cash in a collection box or go to a fundraising event.

Raising student numbers in the Cayman Islands

Five ways your investment process can go wrong

Around the world

From issues of residency to compliance with global transparency and reporting initiatives, STEP’s News Editor Helen Swire provides a regional overview for Africa, Israel and the UAE

Bonds of affection

Luciana Guaspari de Orleans e Bragança and Marina Gonçalves detail a landmark court decision for unmarried couples in Brazil

An error in trust

Ashley Fife and Randall Krebs outline Bermuda’s approach to defective trustee appointments

Open for business

Evan Hermiston details recent changes to St Lucia’s offshore legislation to comply with OECD and EU Code of Conduct requirements

What is a family?

Peter Brigham explains the legislative changes to the concept of a ‘family couple’ in Monaco

Belize steps up its standards

Amanda C Young highlights important changes to Belize’s economic substance legislation

Planning for the worst

Christopher McKenzie discusses the challenges that arise when a shareholder of a British Virgin Islands company dies

A new decade with new ideas from the younger generations

As it is a new year and, indeed, a new decade, it feels appropriate to challenge traditional thinking and the customary approach.

Colombian clarification

Camilo Cortes reports on recent tax reforms enacted in Colombia, following the ‘unconstitutional’ 2018 reforms

Not long for this world

Bernadette Carey and Chris Duncan on new legislation in the Cayman Islands to assist in estate planning and healthcare decisions

A star is (re)born

Anjli Finessi discusses the evolution of curacao’s financial services sector over the past five years

Trust deficit

Emily Stoneham on the difficulties faced by trustees when dealing with disgruntled beneficiaries in England and Wales

A change in trust

Henry Brandts-Giesen analyses the much-anticipated changes to the law of trusts in New Zealand

A new frame of mınd

Janet Weston provides a brief history of the England and Wales Court of Protection

Whose sperm is it anyway?

Nancy Golding considers a recent British Columbia case where a widow was denied use of her deceased husband’s sperm

In family we trust

Stacey Nevin analyses the powers of the family court in trust proceedings in England and Wales

Family fortunes

Billy Ko and Philippa Hewitt explore the impact an economic downturn has on the division of assets in a divorce, using Hong Kong as an example

Sunset years

María del Mar Hernández Cortés describes preventive measures for vulnerable adults immigrating to Spain

In whose best interests?

Edward Porter reviews a recent England and Wales Court of Protection decision weighing the ‘best interests’ of a client lacking capacity

The laws of love

James Quarmby explains the difference in LGBT+ rights across the globe

A family affair

Rosie Schumm and Anna Ferster discuss international aspects of pre-nuptial agreements to protect a family business

Uncharted waters

Sam Dewes explores domicile issues for children with same-sex parents in England and wales

An invested citizen

Eleni Drakou analyses the recent changes to the Cyprus investment scheme

Against the clock

Jed M Silversmith explains the US Internal Revenue Service’s tightened reporting obligations for foreign trusts and gifts

Member Q&A - Amanda Simmonds

Amanda Simmonds TEP is a passionate private client lawyer in the North of England who specialises in complex trust and trustee duty issues, cross-border work and advising families. She has been heavily involved in the Society, sitting on the STEP Council and Professional Standards Committee and heading the Business Families Special Interest Group Steering Committee. More recently, Amanda was elected to sit on STEP’s Board of Directors.