International Trade Wills, Trusts, & Estate Planning

Read need-to-know updates, commentary, and analysis on International Trade issues written by leading professionals.
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Rules of Succession in Dubai

What law governs? The main source of law in the UAE is Sharia in which all laws are formulated and based on. It is considered a public order. The governing law for succession in the country is UAE Federal Law No. 5 of...more

Reporting Foreign Income: Four Common Misconceptions

The U.S. government has stringent reporting requirements when it comes to foreign assets and income, but many people are still not coming into compliance based on some mistaken beliefs. Here are four common misconceptions...more

A Sea Change for Beneficiaries' Right to Information?

The Court of Appeal’s ruling in Dawson-Damer v Taylor Wessing offers beneficiaries rights of access to personal data held by trustees and their legal advisers. This is a landmark case in which our clients, the claimants,...more

When the Wall of Secrecy Collapses

Foreign Accounts, Shell Companies, Blind Trusts, Asset Protection Trusts, Offshore Trusts, Global Citizenship and US Residency are just a few of the Terms highlighted in the mega divorce proceedings of a Palm Beach County...more

Final Response to Non-Dom Consultation Published - Update

The UK government has released its final response to the further consultation on reforms to the taxation of non-UK domiciliaries (non-doms), together with draft legislation that will take effect from 6 April 2017. As well as...more

Proposed Amendments to Trustee Legislation in Singapore

Legislative amendments will enhance transparent ownership and control structures of trusts, and establish minimum standards for financial recordkeeping by trustees. The Singapore Ministry of Law has launched a public...more

HEIRS ACCORDING TO SHARIAH - Principles of Succession

Shariah lays down the relations that qualify as heirs following the death of an individual. The deceased's estate can only be transferred to persons who qualify as heirs under Shariah Law principles. Anyone who does not...more

Surcharge tax hits discretionary trusts

The Office of State Revenue (OSR) has released a ruling on 22 December 2016 in relation to the definition a ‘foreign person’. This is important if you hold an investment property in a discretionary trust....more

Gurlitt Bequest to Kunstmuseum Bern is Upheld

Cousin Had Challenged His Capacity to Make a Will Shortly Before 2014 Death - After a two-year legal battle, the Oberlandesgericht in Munich has upheld the dismissal of Uta Werner’s challenge to the will made by...more

Trump Administration's Tax Reform Likely

Donald J. Trump defied the polls and much of the national media to win the US presidential election on November 8, 2016. President-elect Trump will be sworn in and will take office as the 45th president of the United States...more

Tax Truths: Volume 1, No. 2 – December 2016

AN ANALYSIS OF TAX LAW PROPOSALS OF THE PRESIDENT-ELECT AND THE HOUSE - President-elect Trump made tax reform a highlight of his campaign, calling for fewer tax brackets, lower individual rates, and reduced corporate tax...more

2016 Year-End Estate Planning Advisory

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

Proposed Regs May Limit US Estate Plan

On August 2, 2016, the US Treasury issued long-awaited pro- posed regulations under Code section 2704 that make comprehensive and very significant changes to the valuation of interests in many family-controlled entities for...more

A controversy is brewing over whether a Hungarian trust is a true trust, or just a type of contract

A controversy is brewing over whether a Hungarian trust is a true trust, or just a type of contract. Istvan Illés and Charles E. Rounds, Jr. conclude that it is not and explain the rationale for their conclusion in a law...more

[Webinar] U.S. Tax and Estate Planning for Foreign Persons - Meritas Capability Webinar - September 27th - 1:00p.m. U.S. CDT

Many successful people come to the United States from other countries, either permanently or on study or work assignments that are intended to last just for a few years. These people may earn income in the United States and...more

Application of Home Country Inheritance Law

The Personal Status Law provides in Art. 1(2) the general rule that" the provisions of this law shall apply to non-UAE nationals" and the exception that "unless the foreigner elects to apply his or her personal status law"....more

The Wolf in Sheep’s Clothing: The New UK Register of Persons With Significant Control

In Depth - From 30 June 2016 all UK companies (other than most listed companies) and LLPs will need to include details of persons with significant control or influence (“PSC”) on their annual confirmation statements...more

Paris Court of Appeal Rules on Forced Heirship, US Trusts and Legitimacy of Transforming Real Estate into a Moveable Asset using...

On 11 May 2016 in case no. 14/26247, the Paris Court of Appeal fully confirmed the judgment handed down by the Paris High Court on 2 December 2014 in case no. 10/05228, relating to the estate of Mr Maurice Jarre. By...more

The Hidden Cost Of “Going Home” — the Expatriation Tax for Long-Term Permanent Residents Who Return to Their Home Countries

People immigrate to the United States for many different reasons. Many come here for work reasons and, somewhere along the way, obtain permanent resident status, otherwise known as holding a “green card.” They may work in the...more

"FIRPTA Reform Impacts Investment Opportunities in US Real Estate"

In recent months, much has been written to describe the reforms to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) contained in the Protecting Americans From Tax Hikes Act of 2015 (the Act), which have been...more

Foreign Financial Asset Reporting - Coming Soon to a Domestic Entity Near You

When Form 8938 reporting for foreign financial assets of U.S. taxpayers was first imposed a few years, only U.S. individuals were subject to it. The IRS has now issued final regulations that will commence reporting by...more

Potemkin Village Deferred—Planned Exhibition of Gurlitt Trove is Postponed

Germany has apparently decided to postpone its ill-conceived plans to exhibit the hundreds of works of art that it still holds from the trove seized from the late Cornelius Gurlitt. This decision was announced as a date was...more

Private Eyes They’re Watching You – Offshore Planning after the Panama Papers

Overview - If you have been reading my articles on JD Supra for a while, you will know that I love Afro-Cuban and Brazilian music. Nevertheless, the Hall and Oates song Private Eyes, is a more fitting song to describe...more

Swiss Cheese con Arroz con Pollo – Pondering Offshore Planning after the Panama Papers Scandal

Overview - It is an understatement to say that the state of affairs in the offshore landscape is in flux. The fallout from the recent scandal in Panama remains to be seen. The fall of the rich and famous may end up...more

Plan Ahead to Avoid or Minimize US Estate Tax

If you are not a US resident or a US citizen and are considering buying assets in the US, there are ways to avoid or minimize US estate tax on those assets. ...more

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