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Tax implications of international transactions: Navigating complex tax laws
International transactions are becoming the norm for individuals and businesses in today's global economy. These transactions have intricate tax ramifications that need to be carefully managed in order to maximise financial results and guarantee compliance with global tax laws. Understanding international taxation...
4 min read
What is an executor?
An executor is the person (or people) named in a will to administer a deceased person’s estate. An individual may appoint up to four executors to act at any one time, although for administrative simplicity, it is usually preferable to appoint 2 or 3 executors at most. When an individual dies without…
2 min read
Intestacy
A common question that comes up regularly is what happens if a person dies without having made a valid will. This is particularly relevant in respect of clients who see implementing a will as something they can put off until they are older and never getting around to it, or failing…
2 min read
Who should I appoint as my executor?
There are some legal, practical and emotional considerations that need to be factored in when it comes to appointing the right people to act as your executors. As always, there is no ‘one approach suits all’ strategy in terms of appointments. While the executor role is largely administrative, there is still room…
2 min read
Tax resettlements – the shifting landscape
Whenever a trust is being amended, it is important to consider whether the amendment might result in a resettlement of the trust for tax purposes. If a trust is resettled, then: all assets are treated as having been disposed of by the original trust and settled on the new trust (i.e.…
2 min read
Dealing with divorce – managing loan accounts and unpaid present entitlements
One issue which is frequently overlooked in the context of any relationship breakdown is the treatment of any loan accounts or unpaid present entitlements from family trusts to the individual spouses. These amounts may arise from: a beneficiary having advanced (or been deemed to have advanced) an amount to or…
2 min read
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