Articles & Video
Complex offshore structures – traps and pitfalls: a practical guide
There has been a growing trend over recent years for the development of bespoke and complex holding structures to accommodate the needs and sensitivities of ultra-high net worth individuals. Often, the clients originate from civil law jurisdictions and as a consequence are unfamiliar with trusts and the fiduciary relationship created. There is (understandably) suspicion.
I can see clearly now…
In recent years, there has been a positive deluge of reporting initiatives affecting UK individuals, entities and structures with a UK connection. Some of these have come from the USA (so-called “FATCA”), some from the OECD (the Common Reporting Standard), others from the EU (as a result of the 4th Anti Money Laundering Directive) and others are simply ground-breaking initiatives by the UK government.
Shining a spotlight on family provision
Nearly 80 years since the first family provision legislation came into force in this jurisdiction, and 10 years after heather Ilott issued her claim against the estate of her mother Melita Jackson, 7 justices of the supreme court finally had the opportunity to grapple with the difficulties of claims under the inheritance (provision for family and dependants) act 1975 in the landmark case of Ilott v The Blue Cross  UKSC 17.