2016 STEP Conference

December 12, 2016

McGee, Hearne & Paiz, LLP (MHP) is always expanding their knowledge to better serve their clients. MHP has a unique client service niche: providing tax and accounting services to high wealth families. Services include trust administration and estate planning considerations. Ron Nimmo and Amber Nuse attended the Society of Trust and Estate Practitioners (STEP) Wyoming 2016 International Estate Planning Conference to help clients with their Trust and Estate Planning. This year's STEP Conference was held in Jackson Hole, September 30 through October 1.

STEP is the worldwide professional association for those advising families across generations. They promote best practice, professional integrity and education to the members. The members then help families plan for their futures: from drafting a will or advising family businesses, to helping international families and protecting vulnerable family members.

Speakers from all over the world – the U.S., Belgium, Luxembourg, the UK and Canada, focused on the following topics:

  • Public Registers and Other Attacks on Privacy in Europe – is the U.S. the New Frontier for Asset Protection?
  • The Regulation of Family Offices: Current State of Play and Problems to Resolve for the Future
  • Common Reporting Standards – Implications for Exit Taxation and Choice of Jurisdiction
  • Structuring the Global Family Enterprise for Performance and Economic Efficiency
  • How Much is Enough: Defining a Meaningful Inheritance Through a Four Question, Four Step Process
  • Trust Design and Governance to Improve the Trustee/Beneficiary Relationship

Of particular interest to Ron was the topic of Public Registers and Other Attacks on Privacy in Europe – is the U.S. the New Frontier for Asset Protection? U.S. Laws have become more favorable than some foreign jurisdictions regarding transparency rules and therefore some clients are now considering the U.S. to be the place for asset protection.

Amber commented, "The caliber and diversity of professionals that attend this event each year is impressive to say the least! Not only are there attendees from many different facets of the industry (i.e. attorneys, trust officers, administrators, etc.), but the attendees are from all parts of the globe. The experiences able to be shared within the group are simply remarkable to even contemplate! The opportunity to network with fellow practitioners in the trust and estate arena is plentiful and certainly one of the greatest benefits to attending the conference.

So although the conference is relatively short in terms of time it is certainly packed full of powerful content, great company, and engaging discussions. It is exciting and humbling to form relationships with such a diverse group of amazing professionals. Although there are so many differences between us, ranging from our specific fields of practice to our geographic location, we all have one thing in common…. We are all driven to provide top notch service to our trust and estate clients."