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Tax and Jurisdictions

October 6, 2008

People moving trusts in the US face a multitude of roadblocks. Lee Miller helps you navigate your way.

Location, location, location, writes Lee Miller. Where a trustor lives and in which state a trust is considered resident can affect how an estate plan is carried out and can add (or save) serious tax liability. There are state law based choices that need to be made on an informed basis otherwise the best planning can be an expensive error.
 

October 6, 2008

A lack of direction by the UK government has led to a fevered activity for wealthy, resident non-domiciled individuals. What is the state of play in a climate where many are considering taking their wealth elsewhere?

Businesses of any sort are much more likely to flourish in an environment that is certain and secure writes Rosemary Marr.

Certainly for UK residents and non-domiciled individuals, their advisors and the trustees responsible for their offshore arrangements, the six months that followed the UK Chancellor's first Pre-Budget Report was an exceptional period full of uncertainty.

However, even in a state of flux, it is possible to predict what changes are likely to happen and anticipate how to react.

September 23, 2008

Families with a popular form of UK trust have just two weeks to reorganise their affairs or they could face a stiff 20% tax hit.

Families with a popular form of UK trust have just two weeks to reorganise their affairs or they could face a stiff 20% tax hit.

According to law firm Boodle Hatfield, the "life interest trust" charge follows Gordon Brown's 2006 Budget, which has significantly curtailed the ability to create new trusts without an upfront tax charge.

August 15, 2008

Hereditary Prince Alois of Liechtenstein has used his country’s National Day as the occasion on which to announce that wealthy foreigners who deposit monies in the principality's bank accounts will face relaxed transparency laws.

Hereditary Prince Alois of Liechtenstein (pictured) has used his country's National Day as the occasion on which to announce that wealthy foreigners who deposit monies in the principality's bank accounts will face relaxed transparency laws.

He said Liechtenstein's tax matters would be based on "a new foundation" that would lead to stronger cooperation in tax matters in line with "international trends".

July 1, 2008

Wealthy families are all too aware of the importance of protecting their wealth. Unfortunately, according to a new survey on this topic, in practice families are failing to do enough

Wealthy families are all too aware of the importance of protecting their wealth. Unfortunately, according to a new survey on this topic, in practice families are failing to do enough

A ground-breaking new study has provided a unique glimpse into how ultra high net worth families around the world are attempting to protect their wealth. And the stark fact is that they are not doing enough.

June 26, 2008

Featured in the Wall Street Journal, Reuters and Estates and Trusts, get your copy of this groundbreaking report and find out how to better protect your family's fortune.

Succession plans of UHNW family businesses are "gathering dust," a new study has found that points to a need for greater awareness and action plans for family business elites.

June 12, 2008

Nearly four out of five affluent family business owners want to keep control of the business within the family but very few have the structure in place to achieve this, a new study from US Trust, Bank of America Private Wealth Management and Campden Research has found.

Nearly four out of five affluent family business owners want to keep control of the business within the family but very few have the structure in place to achieve this, a new study from US Trust, Bank of America Private Wealth Management and Campden Research has found.

The research, conducted by renowned wealth consultant Russ Alan Prince, found that 78.1% of ultra high net worth family business owners wished to keep their businesses in the family but that very few of them were utilising succession plans that would ensure this outcome.

May 15, 2008

A Florida indictment of a former UBS private banker and his alleged associate in Liechtenstein paves the way for US prosecutors to subpoena the Swiss banking giant.

A Florida indictment of a former UBS private banker and his alleged associate in Liechtenstein paves the way for US prosecutors to subpoena the Swiss banking giant. Earlier this week former UBS private banker Bradley Birkenfeld and his alleged associate, Liechtenstein businessman Mario Staggl, were charged with conspiring to defraud the US by helping a US citizen conceal his ownership of offshore assets.

March 1, 2008

The market for offshore yacht and aircraft registration is heating up and stimulating a competitive spirit, says Reg Crowder, bringing nothing but good news for both owners and buyers of luxury yachts and aircraft

The market for offshore yacht and aircraft registration is heating up and stimulating a competitive spirit, says Reg Crowder, bringing nothing but good news for both owners and buyers of luxury yachts and aircraft

Never before have owners and buyers of luxury yachts and aircraft had more choice of places to register their sumptuous transports. Finding the right jurisdiction is ultimately more possible, if not a little more challenging.

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