Harry Cendrowski
Welcome to the spring edition of our GGI FYI Trust & Estate Planning Newsletter. I am looking forward to seeing everyone at the GGI European Regional Conference in Amsterdam in May 2023, as well as at the GGI North American Regional Conference in June 2023.It is truly a challenging time with all of financial issues facing many countries. Recently in the United States we witnessed Silicon Valley Bank (SVB) be taken over by the Federal Deposit Insurance Corporation (FDIC). SVB was the sixteenth largest bank in the United States, and this was the second largest bank failure in the nation’s history. At the time of this writing two additional financial institutions have failed. We need to stay vigilant on behalf of our clients’ estate and investment efforts to help mitigate the fallout of these major events. The spectre of a black swan event is ever present.
In this issue, GGI authors from around the world keep you updated on the latest developments in the area of trust & estate planning, and share their expertise with you: Ross Forrester, Westcourt Chartered Accountants, Australia, writes about Australian asset protection and the presumption of resulting trust. Tony Nunes and Lishi Huang, both from Kelly & Partners, Australia, draw your attention to unexpected tax bills – default beneficiaries should be aware. Michael Borger, Moritt Hock & Hamroff LLP, USA, tells a tale of two tax regimes -– estate planning considerations for non-domiciliaries. Dr Antonio Landolfi, Landolfi & Associati, Italy, updates the reader on taxation of trusts in Italy. Chris Humphries and Jonathan McLean, Stuarts Walker Hersant Humphries, Cayman Islands, discuss Cayman structures for Web 3.0 entities. Jolene Tan, SingAlliance, Singapore, informs on art financing and art tokenisation. Roberto Cagnazzo, Three & Partners, Italy, shares an article on due diligence in the purchase of a work of art. Inna Ganz, USTaxFS, UK, reports on important filing requirements for US companies. Katie Bolton, Nolands, South Africa, discusses the Thistle case and taxpayer losses in the interpretation of the conduit principle. James F. Schultz, Cendrowski Corporate Advisors, USA, demonstrates how to move a S corporation business to an LLC.
Thank you to all our contributors. The variety of articles and jurisdictions represented in this publication demonstrates international strength. We continue to look for leaders in each continent for the TEP group. Please contact me or Sergio if you are interested.
With sincere gratitude.
Harry CendrowskiResponsible Editor & Global Chair of the TEP Practice Group
GGI member firmCendrowski Corporate Advisors LLCBloomfield Hills (MI), USAT: +1 248 540 5760
Advisory, Corporate Finance, Fiduciary & Estate Planning, Tax
Contact Harry.
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