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James Quick attends Cross Border Planning for the Private Client Event at the Bloomsbury Hotel

Another excellent event (Cross Border Planning for the Private Client) held by the team at KNect365, thanks Rosie Graham and Ioana Covrig, great job! A lot of interesting topics covered including: – Rosalyn Breedy marshalling a panel discussing PTC & Family office trends and troubles, with Salpy Kouyoumjian commenting on the changes in the shape of trust company boards and the inclusion of family members in this process. Nicholas Holland and Graeme Kleiner handling a lively debate about trust litigation and when things go wrong, chaired by James Lister, who had some great insight into data protection, disclosure and the ongoing question of “what is privileged”?

As day 2 reached the half way point, we had an animated discussion from Chris Moorcroft, James Price & Charles Thomson about the key drivers in asset protection and what the future may hold. With a little crystal ball gazing it seemed clear that the modern-day client is susceptible to entirely new risks and with the levels of increased tax enforcement and more aggressive action being taken, the demise of trusts have enforced the need to develop more creative ways of asset protection structures that are not bogged down by the stigma of how modern day clients view trusts and the way they have been reported publicly.  No doubt this will lead to an increased level of more corporate type structures for private clients but as the trust litigators in the room pointed out, they are easier to attack than current trusts.  That was followed by Anthony Thompson (Forsters) & Damian Bloom (BLP) discussing family governance and business transition and how to avoid conflicts by not waiting to get a grip of potential situations and providing pro-active advice for any eventuality.

All in all, and from a position of not advising HNW’s, it was great to see the level of collaboration and learning involved in the Q&A sessions, the desire to share experiences with each other and the very deliberate focus on ensuring the attendees were thinking ahead for their clients in a relatively volatile economic and political climate.

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