Michael Duffy

STEP, the Society of Trust and Estate Practitioners, has today launched a Responsible Stewardship Toolkit, a platform designed to guide families, their advisers and trust and estate practitioners with tools to incorporate responsible stewardship principles in trusts, wills and powers of attorney. Clare Stirzaker, Private Wealth Partner, Emma Haley, Legal Director and Sophie Harcourt, Private Wealth Associate, contributed to the Toolkit, alongside industry experts across the wealth planning, fiduciary and philanthropic sectors.

In eprivateclient, Partner, Nicola Bushby explores the Law Commission’s Modernising Wills report, highlighting key proposals for reforming the law of wills, such as recognising electronic wills and adopting the test for capacity in lieu of the common law test. While progress is clear, concerns remain, especially around the rule revoking wills upon marriage.

Private Wealth Partners, Kyra Motley and Laurence Morgan explain the concept of long-term UK residence and its significance for UK inheritance tax (IHT) following the shift away from the domicile-based system, introducing new considerations for individuals and trustees.

Planning for an artist’s legacy involves more than just inheritance – it’s about preserving creative identity while providing for loved ones. In the Christie’s Bulletin, Senior Associate, Alice Julian, explores the complexities of managing an Artistic Estate, from copyright and resale rights to tax strategy and charitable foundations.