Table of contents
Issue focus: Investment
The art of valuation
Julian Washington TEP and Rachel Reilly explain the different types of valuation in the art world and the role they play in one’s taxes
Duty calls
Henry Brandts-Giesen TEP on the investment of trust funds, the gap between law and practice, and why it matters
Investing in change
Alex Faure comments on the landscape of sustainable investing
The art of finding liquidity
Tristan Dollie on how art finance can be used for probate matters in the UK
Open the fund gates
Charlotte Thorne explains how private equity investors are engaged in a flight to quality
Plain sailing
Judith Chatoo TEP and Natasha Bunting lay out the advantages of corporate yacht ownership, with an emphasis on the Cayman Islands
An uphill struggle
James Gribbin describes the continuing and unsettled struggle between fiduciary duties and ESG investing for discretionary trustees
Regional focus: Europe
Something in the heir
Jessica Flowerdew and Emilie Bensmihen examine the relationship between forced heirship and the rights of the surviving spouse in France and Scotland
Changing for the better
Stefano Loconte TEP reports on new draft reforms to the taxation of trusts in Italy
IFI were you
Adea Meidani TEP and Carole Darbes examine limitations to the debt deductibility rules applying to real estate companies in France
Separation anxiety
Sarah Keily TEP on how links with Europe may affect how separating couples in England and Wales manage their affairs
Staying compliant
Daniel Schüttpelz outlines challenges and opportunities in issues of trusts and tax compliance in Germany
Career and workplace
STEP's studious stars
Kaitlyn Gutzke sits down with three of STEP’s highest-scoring students in 2023
The harmony of difference
Kelly Greig TEP on embracing neurodiversity and unlocking potential in the workplace
A question of ethics
Katharina Byrne TEP explores ethical issues in practice and how to deal with them
Raise your game
Daniel Trimarchi TEP expounds on the merits of taking CLTI and STEP’s Advanced Certificate courses in family business
Perspectives
Corruption at the gates
The FATF view on the effectiveness of AML gatekeepers, by Paolo Panico
Book review: Private Trust Companies – A Handbook for Advisors (Second Edition)
Edited by Todd Mayo TEP and reviewed by Bernadette Carey TEP
Tales from the crypt
Jack Burroughs TEP explains the interplay of keys, wallets and encryption in the digital assets space
Cash is king
Helen Vieira TEP on why the ECB rate cut means a change in attitude may be needed when optimising cash returns among private client practitioners and trustees
A day in the life
Donna Shorto TEP explains the role of a trust director
Community
Pay it forward
Stephanie North lays out how to get involved with STEP at a global level
STEP updates
News from STEP, including upcoming events, the latest consultations and member updates
Member Q&A – Pamela Cross TEP
We sat down with STEP Global Congress 2025 Programme Chair, Pamela Cross TEP, to chat about what attendees should expect from the upcoming event
Hit the books
Sarah Manuel and Megan Jones explore the STEP CPD landscape
How to download a STEP Journal article
An explanation of how to download STEP Journal articles as PDFs on our new site
Technical
Hook, line and sinker
Kerry Morgan-Gould and Faye Dunn discuss a recent England and Wales decision where trustees appointed the family farm to one of four siblings
Sheree Green TEP gives a timely update on the state of assisted dying and mental capacity, with a focus on current UK legislation
Big picture
A picture of wealth
Gina M Pereira TEP on shifting attitudes towards wealth and the impact on planning
Good CoP, bad CoP
Young adults with disabilities in the UK are struggling to access their Child Trust Funds when the law and common sense collide, writes Philip Warford TEP
Feeling the squeeze
Helen Bradford-Swire, News Editor at STEP, asks if wealth taxes are on the cards in the near future for the world’s highest-wealth individuals
Tell it DAO it is
Jessica Schaedler TEP explores the utility of DAOs, from DeFi to family governance