International estate planning

Article Abstract:

International estate planning entails the consideration of foreign succession laws for those with assets abroad. The disparity of local probate laws amongst European Community (EC) members will not be unified by EC harmonization, and they can cause unintended problems. Accountants analyzing foreign succession laws should consider: reserved heirship rights; the recognition of trusts; and the concept of marital regime. Persons with foreign assets should retain professional counsel, a local adviser well versed in tax law with practical experience in probate. Ideally, the advisor should have a working knowledge of a client's native tax system in order to facilitate communication.

Interpretation and construction, Laws, regulations and rules, Estate planning, Probate law

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Happy families

Article Abstract:

The relationship between investors and a firm are different in quoted and unquoted companies. Investors in unquoted companies often have more influence over management, particularly in relationships involving venture capitalists in the early stages of start up organizations. Due to management sensitivity to market fluctuations in price, investors in quoted companies influence management by selling shares in the market. The power of institutional investors in quoted companies comes from their ability to: identify problems; elicit action by management to solve problems; and offer support to management for courses of action taken.

Analysis, Institutional investments

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The case for cautious optimism

Article Abstract:

Directors of insolvent firms who knew the companies could avoid insolvent liquidation are liable to contribute to the assets of the companies under the UK 1986 Insolvency Act. The only defense is if the directors did all they could to minimize the potential loss to the firms' creditors. Directors who allow companies to incur credit when it is clear the companies will not be able to satisfy creditors may be guilty of wrongful trading, which has a wider legal scope than fraudulent trading involving actual dishonesty.

Bankruptcy law, Great Britain

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