Month: September 2015
A mentally incapacitated parent was effectively kidnapped and taken to a low tax jurisdictions to avoid taxes
Suzanne Marriott, partner and notary public for Charles Russell Speechlys, talks about the cases of financial abuse of UHNW clients after losing mental capacity.
read moreRise of substantial probate disputes involving UHNWs because of the high tolerance of mistresses in Asia and numerous children from different wives and girlfriends
John Budge, consultant at Wilkinson & Grist, Hong Kong, also talks about the case where a daughter abused a power of attorney to steal her mother’s assets to buy real estate in her own name.
read moreMoves by the UK government to fully digitise lasting power of attorney found it was important to retain a ‘wet signature’ to protect the elderly from financial abuse
Julia Abrey, head of the Withers Elder Law team, says UHNWs would be well advised to appoint more than one attorney following the reported case of financial abuse of L’Oreal heiress Lilane Bettencourt
read moreCross-border incapacity issues are a ticking time bomb
James Ward, head of private client at Seddons, says that with the proportion of elderly UHNW individuals growing faster than ever, having a power of attorney in place has become essential.
read moreCourt of protection gives authority to spend £1.35 million for a building project for a young man who suffered a catastrophic brain injury
Patricia Wass, consultant at Foot Anstey, says there will be more work for the office of the public guardian and the court of protection with the increasingly elderly demographic.
read moreCourts may put children security to risk with ‘jigsaw identification’
John Darnton, partner at Bircham Dyson Bell, says that the court faced criticism for publishing the facts that can be easily used to identify the family in the case via Internet search
read moreChild removed to Jordan to avoid shared care type arrangement
Liz Allen, partner at Stephens Scown, talks about the case where a Jordanian mother took her child to her country when she refused to share care with her ex-husband.
read moreArbitration may be better than the court for UHNW families
Michael Drake, partner at Collyer Bristow, says mediation and family arbitration have advantages that may help protect children of the UHNW couples in case of divorce.
read moreArbitration may be better than the court for the UHNW families
Michael Drake, partner at Collyer Bristow, says mediation and family arbitration have advantages that may help protect children of the UHNW couples in case of divorce.
read moreUse of international surrogate mothers on the rise
Lisa Pepper, partner at Osbornes, also talks about UHNW divorces, children welfare and international adoptions.
read moreWhen UHNW couple decide to divorce, the safety of their children becomes the absolute priority
Amanda McAlister, head of family law at Slater and Gordon, says UHNW families takes extraordinary security measures to protect privacy of their children.
read moreSimon Duggan, managing director, Knox House Trust
Managing director Simon Duggan talks to Suzanne Isaacs about Knox House Trust and his role in its expansion.
read moreIndia: Rapid wealth creation fuels fast growth for India’s advisors
Claire Coe Smith investigates India’s wealth industry and explains why the country might soon become the highest growth region in the world in terms of wealth management
read moreValentina Tacchino, head of private wealth management International, Kleinwort Benson
Valentina Tacchino talks about the challenges that UHNW clients face when moving their wealth to the UK.
read moreOne country, two thriving wealth management hubs
Although Geneva is still the leader, the level of sophistication of services in Zurich has improved and thus reduced the gap between the two centres.
read moreVulnerability of trust structures in divorce cases
Paul Hewitt, partner at Withers, and Sarah Aughwane, associate at Withers,
read moreYoung generations have higher expectations of trustees
Peter Steen, partner at Mishcon de Reya, says There is an increasing amount of litigation generated by inter-generational tension.
read moreIncrease in trust litigation will hurt the industry
Randall Krebs, general counsel, Meritus Trust Company Limited, Bermuda, says the increase in willingness to litigate can results in trustees becoming very risk-adverse, potentially to the detriment of the families and trusts.
read moreInvestments can be a minefield for trustees
John Greenfield, partner at Carey Olsen, Guernsey, says trustees have ventured into a wider field of investments which can be very dangerous territory for them if it goes wrong
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