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STEP Journal: Issue 6, 2020

14 December 2020

Welcome to Issue 6 of the STEP Journal. This issue shines a spotlight on Europe, examining a number of cross-border considerations involving the vast continent. With a focus on compliance and careers, this issue highlights the changes in STEP’s Diploma curriculum, while also offering a number of articles to encourage personal and professional growth. Delving into the digital world, we explore the increasing recognition of electronic wills and detail how to mitigate cybersecurity issues facing estate advisors.

What will the New Year bring?

Editor's foreword

14 December 2020

STEP News: Issue 6, 2020

14 December 2020

Policy update

14 December 2020

A matter of substance

As more jurisdictions bring in economic substance regulation, Helen Swire asks what it means for practitioners and clients to comply

18 December 2020

Book review: Trusts in Prime Jurisdictions, fifth edition

14 December 2020

Guiding charities in Hong Kong

Oliver Tang lays out the recommendations for charitable organisations in Hong Kong under its new Good Practice Guide

14 December 2020

Around the world

As regulatory requirements continue to come into force in Cyprus, Gibraltar and Malta, Helen Swire, News Editor at STEP, provides an overview as the jurisdictions comply with international standards

14 December 2020

Awarding excellence

14 December 2020

Dawn of a new era

Kimberley Martin reflects on the increasing recognition of electronic wills and remote witnessing of wills in response to the COVID-19 pandemic

14 December 2020

Mal-wealth

Steven D’Alessandro and Adam Steen detail how to mitigate cybersecurity issues before they crop up for estate advisors

14 December 2020

Halos and wings, but no angels

Mustafa Hussain details the incongruities between aspirations and practice in joint ventures

14 December 2020

In good times and in bad

A decade after Radmacher, Jane Keir assesses the legacy of the landmark UK Supreme Court case and the resulting enforceability of pre- and post-nuptial agreements

14 December 2020

The digital tsunami meets estate administration

Sharon Hartung and Jennifer L Zegel discuss lessons to be learned from the Canadian Quadriga debacle and how it informs estate planning and estate administration

14 December 2020

The devil is in the detail

Robert Lindley and Wesley O’Brien discuss the utility of family-managed PTCs and fiduciary committees and methods to ensure proper management.

14 December 2020

We’re all dom’d?

David Kilshaw and Jeremy Stein encourage practitioners to review their non-domiciled client portfolios in the UK.

14 December 2020

Scottish and Spanish estates

Álvaro Aznar Azcárate and Nicola Neal examine the implications of cross-border estates involving Spain and Scotland

14 December 2020

Much obliged

Sarah Verlende and Bertrand Géradin describe new obligations for local and foreign trustees involved in fiduciary arrangements and trusts in Luxembourg

14 December 2020

Like clockwork

Dr Ariel Sergio Goekmen-Davidoff provides an update on the usefulness of Swiss foundations

14 December 2020

Practice makes perfect

Shai Dover stresses the need for cooperation between advisors when calculating cross-border taxation, using German and Israeli tax law as an example

14 December 2020

When is a trust not a trust?

Richard Frimston asks whether unequal treatment of trusts and trust-like structures in 5AMLD is cause for concern

14 December 2020

Building a growth mindset in business

Jenni Hutchinson explores what is meant by a growth mindset versus a fixed mindset based on a survey of STEP Employer Partners

14 December 2020

Trust the system

Parris Innis-Mckenzie discusses the quirks and challenges of the UK Trust Registration Service

14 December 2020

‘You’re still up and around?’

Eileen Gallo on how practitioners can avoid unconscious bias when advising elderly clients

17 December 2020

Change is coming

The STEP Diploma in International Trust Management has undergone an overhaul. Madeleine Jenness and Victoria Hand detail the changes made, and why.

14 December 2020

In perfect alignment

Maria Soler Terradez advises practitioners on how they can find purpose in their career.

14 December 2020

Member Q&A - Farah Deba Mohamed Sofian

Farah Deba Mohamed Sofian TEP is an advocate, solicitor and Chair of STEP Malaysia. Farah specialises in inheritance and succession planning for Muslim and non-Muslim families at her firm Wong Lu Peen & Tunku Alina. As the trust industry in Malaysia experiences growth, she strives to encourage practitioners to consider how religious law can be interwoven into other legal systems to better serve clients from different backgrounds.

14 December 2020