North America: Wealth Management

The year 2011 was undoubtedly an eventful one, and for trusts and estates practitioners the uncertain economic conditions came at a time of numerous legislative developments offshore.

On February 8, 2012, the Internal Revenue Service ("IRS") issued much-awaited proposed regulations (the "Proposed Regulations") that interpret sections of the Internal Revenue Code (the "Code") that were added on March 18, 2010 as part of the Hiring Incentives to Restore Employment Act (the "HIRE Act").

On February 8, 2012, the IRS and US Treasury released 389 pages of proposed regulations under the Foreign Account Tax Compliance Act (FATCA), which was enacted for the purpose of combating offshore tax evasion

The British Overseas Territory of the Virgin Islands, commonly called the "British Virgin Islands", is located about 60 miles east of Puerto Rico and which along with its largest trading partner, the U.S. Virgin Islands, forms part of the Virgin Islands archipelago.

The Cayman Islands has been a popular tourist, recreation and business destination for many years. Beautiful beaches, spectacular dive sites, high quality modern hotels and tropical weather combine to attract the tourists in large numbers year after year.

General information on the Cayman Islands.

Setting up an offshore business requires careful planning and consideration. One key aspect to understand is how special economic zones (SEZs) in the Cayman Islands can support your business growth and help establish an international presence

From driving international trade and global value chains to promoting sustainability, entrepreneurship, and innovation, special economic zones (SEZs) have emerged as pivotal players...

Both the Cayman Islands and Dubai have great appeal for businesses exploring offshore locations. Companies operating in IT, shipping, commodities, and technology can find distinct advantages in both locations.

The answer, at least in Massachusetts, is yes. In Cesar v. Sundelin, the Massachusetts Appeals Court recently ruled that, in dividing a marital estate that includes a family business.

In "Berkowitz v. Berkowitz", Civil Action No. 11-10483-DJC, 2012 U.S. Dist. LEXIS 31487 (D. Mass. March 9, 2012), the U.S. District Court denied a motion to dismiss a complaint alleging breach of an oral trust.

The Wills and Succession Act ("WSA") came into force in Alberta on February 1, 2012.