Revocable & Irrevocable Trusts. Legal news and articles for March 11 - 14, 2014

Setting Up a Trust? Think LocationSetting Up a Trust? Think LocationFATCA Update For UK TrusteesAttorney and Author Michael Gilfix to Speak on Special Needs TrustsThe New York Non-Profit Revitalization Act Of 2013 – Important Changes ...Guardians of TrustsOwn up, ownersInvestec Trust (Guernsey) Limited v Glenalla Properties Limited & OthersGovernment backs Law Commission move to revise Trusts ActMEPs vote to pierce secrecy of trusts in anti-money laundering billGovernment backs Law Commission move to revise Trusts ActGovernment backs Law Commission move to revise Trusts ActForty Under 40: Wayne ReamesNew Zealand Government reviews the law of trustsGovernment reviews the law of trusts

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Government backs Law Commission move to revise Trusts Act
New Zealand HeraldMarch 11, 2014

The Ministry of Justice will look at the implications of a new act, as well as the commission's 50 other recommendations, before reporting back to the Government. Stage two of the review will cover charitable and purpose trusts, while stage three will ...more »

Move to block hospital closures law backed by 20 coalition MPs
The GuardianMarch 11, 2014

He is seeking to amend clause 119 of the care bill, dubbed the "hospital closure clause", which as it stands would give a "trust special administrator" appointed to sort out a failing hospital trust the power to order changes in the makeup of another ...more »

Revocable & Irrevocable Trusts. News and Stories

Setting Up a Trust? Think Location
Wall Street JournalMarch 14, 2014

The state where a trust is established makes a big difference in how much income and estate taxes it will incur. And location plays a big role in how much control its owner, trustees, and even beneficiaries have over it. State laws govern trusts, and ...more »

Setting Up a Trust? Think Location
Wall Street JournalMarch 14, 2014

Many states have moved to standardize their laws by adopting the Uniform Trust Code, a model law created by a group of state commissioners. Nevertheless, there are still enough differences between state laws to make it challenging to come up with a ...more »

FATCA Update For UK Trustees
Mondaq News Alerts (registration)March 14, 2014

Many UK advisors believe that FATCA only applies to UK trusts if there are US beneficiaries, settlors, or investments. This is not true. FATCA will apply to all financial institutions (banks, brokerage firms, trust companies and all financial accounts ...more »

Attorney and Author Michael Gilfix to Speak on Special Needs Trusts
Law Firm Newswire (press release)March 14, 2014

Palo Alto, CA (Law Firm Newswire) March 14, 2014 – Families with a disabled child, parent or other relative face incredibly difficult challenges. They struggle to ensure that their disabled loved one lives a happy and comfortable life. As such, parents ...more »

The New York Non-Profit Revitalization Act Of 2013 – Important Changes ...
Mondaq News Alerts (registration)March 13, 2014

Financial oversight of charitable corporations and trusts: The act places significant heightened audit oversight responsibilities upon the boards or designated audit committees of nonprofits required to submit audited financial statements annually to ...more »

Guardians of Trusts
New York TimesMarch 12, 2014

“A trust protector is like a traffic cop who can write tickets,” said Daniel D. Mielnicki, a partner with Berger Singerman, a Boca Raton, Fla., law firm. ... But a trust protector can be empowered to tweak a document to track changes in estate and tax...more »

Own up, owners
The Economist (blog)March 12, 2014

This would presumably include things like limited-liability partnerships, which have become a popular repository for dirty money (again, see Ukraine—or Russia, or Syria). For trusts this would mark a sea change in disclosure. Whereas many ... It ...more »

Investec Trust (Guernsey) Limited v Glenalla Properties Limited & Others
Lexology (registration)March 11, 2014

In these Guernsey proceedings involving a Jersey-law trust called the Tchenguiz Discretionary Trust (TDT), the former trustees sought determination of whether certain arrangements for moving money between the trustees and certain BVI companies within ...more »

Government backs Law Commission move to revise Trusts Act
New Zealand HeraldMarch 11, 2014

The Ministry of Justice will look at the implications of a new act, as well as the commission's 50 other recommendations, before reporting back to the Government. Stage two of the review will cover charitable and purpose trusts, while stage three will ...more »

MEPs vote to pierce secrecy of trusts in anti-money laundering bill
EUobserverMarch 11, 2014

Member states, for their part, still have to formulate a position before entering into negotiations with the parliament on the law. The parliament's strong endorsement to include trusts in the public register may meet some resistance from the UK. UK ...more »

Government backs Law Commission move to revise Trusts Act
New Zealand HeraldMarch 11, 2014

The Ministry of Justice will look at the implications of a new act, as well as the commission's 50 other recommendations, before reporting back to the Government. Stage two of the review will cover charitable and purpose trusts, while stage three will ...more »

Government backs Law Commission move to revise Trusts Act
New Zealand HeraldMarch 11, 2014

The Ministry of Justice will look at the implications of a new act, as well as the commission's 50 other recommendations, before reporting back to the Government. Stage two of the review will cover charitable and purpose trusts, while stage three will ...more »

Forty Under 40: Wayne Reames
Business RecordMarch 11, 2014

Reames -- who specializes in tax law, business law, trusts and estates, and similar areas -- attended Luther College in Decorah. The first ... Reames twice co-authored a nationally recognized publication on tax management concerning estates, gifts and ...more »

New Zealand Government reviews the law of trusts
MENAFN.COMMarch 11, 2014

Mar 11, 2014 (Menafn - M2 PRESSWIRE via COMTEX) --The law governing private trusts in New Zealand will be updated and made more accessible, Justice Minister Judith Collins says. Ms Collins tabled the Government's response to the Law Commission's ...more »

Government reviews the law of trusts
Scoop.co.nz (press release)March 11, 2014

“Trust law is a key part of New Zealand's legal infrastructure that governs an important component of our economy. The use of trusts ranges from high finance through to the family home, with an estimated 300,000 to 500,000 trusts currently operating in ...more »

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