The Impact of One Big Beautiful Bill on Estate Planning
One of the most common estate-planning mistakes has nothing to do with wills or trusts. It happens quietly through joint accounts and beneficiary designations that people set up years earlier and forget about....more
On January 14, 2026, Complementary Law 227 (“CL 227/2026” or the “Complementary Law”) was published, containing the additional regulation of the Tax Reform on Consumption. In summary, L 227/2026 sets forth rules on the...more
The Financial Reporting Council (FRC) has announced the publication of its guidance for actuaries who are asked to confirm whether a “potentially remediable alteration” (PRA) would have prevented a scheme from continuing to...more
Welcome to our monthly update on current legal issues for trustees of DC pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on your next...more
If you reside in New Jersey (or have substantial ties to the state), estate planning isn’t just about wills, trusts or who gets Grandma’s china—it’s also about considering how taxes may erode what your loved ones receive....more
Pension Schemes Bill: Virgin Media remedy - Provisions in the Bill will enable retrospective validation of rule changes which may have otherwise been invalid, following the Court of Appeal’s decision in the Virgin Media case....more
As the holiday season approaches, families gather to reconnect, reflect, and prepare for the year ahead. For many households, it is one of the few times when adult children, aging parents, and extended family members are all...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions....more
A bite-sized summary of recent UK pension news - Welcome to our latest update, in which we cover: Autumn Statement and HMRC publications: issues relevant to pensions - Recent publications by HMRC with further detail on Budget...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. SUMMARY- • The autumn Budget introduces a GBP2,000 annual...more
The Budget Statement includes the following announcements relevant to pensions. Salary sacrifice - As had been widely anticipated, the National Insurance contributions (NICs) benefit of paying employee pension contributions...more
The Chancellor has today announced her highly anticipated autumn Budget. As speculated, the most significant change in relation to pension schemes was the introduction of an annual GBP2,000 cap on the amount of pension...more
According to a recent study conducted by Consumer Affairs, the average American moves 11.7 times in their lifetime. While the majority of these moves occur within the same county, or city, millions of Americans move every...more
Internal Revenue Code Section 2801 was introduced into U.S. tax law in 2008, creating a U.S.-based inheritance tax, otherwise known as the “§2801 tax.” In January 2025, final regulations were issued implementing the §2801...more
The application to the Cayman Court was made under section 64A of the Cayman Islands Trusts Act (2021 Revision), which provides relief in relation to mistaken exercise of fiduciary powers. The case demonstrates the...more
In this episode of Trust Us, Danielle Friedman, Max McCauley, and Herb Fineburg discuss the recent changes brought by the One Big Beautiful Bill Act, which raised the estate tax exemption level starting January 1, 2026....more
ISSUES AFFECTING ALL SCHEMES - COMPANY DIRECTORS – IDENTITY VERIFICATION REQUIREMENTS - Companies House has announced that the identity verification requirements under the Economic Crime and Corporate Transparency Act...more
When someone dies, the task of settling the person’s estate descends upon the personal representative. Being appointed a personal representative, or “executor,” is an honor that includes a broad range of responsibilities....more
Welcome to July’s edition of our UK Tax Round Up. Apart from the draft legislation and accompanying material released on 21 July as part of “L-Day” (legislation day), July was a fairly quiet month for UK tax developments....more
HMRC has taken on board concerns from the pensions industry about its previous proposals for bringing many pension death benefits within the scope of inheritance tax (IHT). On 21 July 2025, HMRC issued a Policy Paper and...more
The government has responded to its consultation on its proposal that from 6 April 2027, most death benefits paid from registered pension schemes (whether DB or DC) will form part of the deceased member’s estate for...more