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STEP Journal: Issue 3, 2023

07 June 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.

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

Back to basics: Digital assets – Part 3: Decoding crypto jargon

The importance of talent retention

Bond markets: worth another look?

Book review: Court of Protection Handbook: A user’s guide, fourth edition

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’.