Charles Monat Associates: March 2012






PREVIOUS POSTS Wealth Transfer: 7 Ways to Maximize the Value of Y... Rowbotham & Co LLC article : Expatriation: A Growi... World's wealthy favour London and New York, with A... The Best Financial Advice I Ever Received Greatest Love of All OSU Cowboys' Death Wish Goes Unanswered, Lose $33 ... The domiciled, the deemed domiciled and the comple... Inheriting money from abroad is a pain. It should ... Individual becomes resident while in the UK on hol... Fuss to investors: Avoid these fixed-income ETFs ARCHIVES April 2005 July 2005 August 2005 September 2005 October 2005 November 2005 December 2005 January 2006 February 2006 March 2006 April 2006 May 2006 June 2006 July 2006 October 2006 November 2006 August 2007 September 2007 October 2007 November 2007 February 2008 October 2008 March 2009 April 2009 May 2009 June 2009 July 2009 October 2009 November 2009 December 2009 January 2010 February 2010 March 2010 April 2010 June 2010 July 2010 October 2010 November 2010 December 2010 February 2011 March 2011 April 2011 June 2011 September 2011 October 2011 November 2011 January 2012 February 2012 March 2012 April 2012
	Thursday, March 22, 2012 Greatest Love of All Ever since Whitney Houston’s death on Feb. 11 at age 48, rumors have been circulating about her estate. Would her ex-husband, Bobby Brown, seek to gain control of the money? Did Whitney protect her daughter, Bobbi Kristina, with a trust, or will everything be paid to her at once, since she is 18? Read more... posted by Charles Monat Associates at 5:23 PM \| 0 comments OSU Cowboys' Death Wish Goes Unanswered, Lose $33 Million The Oklahoma State Cowboys wagered on a few timely deaths, but they lost the bet and the team’s coffers are now $33 million lighter. Read more... posted by Charles Monat Associates at 2:03 PM \| 0 comments Wednesday, March 21, 2012 The domiciled, the deemed domiciled and the completely baffled: who is affected by UK IHT The difference between domiciled and “deemed” domiciled is more than just an extra six letters. Chargeability to UK IHT, for example, depends on where a person is domiciled or ‘deemed’ to be domiciled. If a person is domiciled or deemed domiciled in the UK, they are liable to IHT on their worldwide assets, wherever these happen to be situated. Read more... posted by Charles Monat Associates at 5:42 PM \| 0 comments Tuesday, March 20, 2012 Inheriting money from abroad is a pain. It should be easier WHEN Susan’s cousin died intestate in 2009, his 20-odd heirs were scattered in two countries and his property was spread across three. His death kicked off a lumbering international inheritance procedure. “We thought it would take a year,” Susan says (choosing to stay anonymous while the lawyers are still at work). It will probably last three. Dealing with the belongings of the dead is a grim job, but trickiest when they cross borders. Two or more jurisdictions may claim the right to share out an estate (or all may deny responsibility for it). When a legatee lives in a third country it is harder still. “It’s like three dimensional chess,” says Richard Frimston, a lawyer. Read more... posted by Charles Monat Associates at 9:48 AM \| 0 comments Tuesday, March 13, 2012 Individual becomes resident while in the UK on holiday The First-tier Tribunal has determined that a taxpayer became resident while in the UK on holiday. Accordingly, when he disposed of shares shortly after departing from the UK, he disposed of them as a UK resident and therefore incurred a substantial capital gains tax liability. The appellant worked in Japan. It was accepted that he was not resident in the UK before 17 July 2005. On 17 July 2005, the appellant left Japan and returned to the UK for a holiday with his family. This was a common annual event. He departed the UK for Italy on 30 July 2005 for another holiday. He sold his shares on 12 August 2005 realising a substantial gain. The appellant returned to the UK on 28 August 2005 with the intention of residing here permanently. HMRC conceded the availability of extra-statutory concession A11 (ESC A11), which treats taxpayers that arrive part way through a tax year as resident from the point residence is established rather than for the whole of the tax year. Read more... posted by Charles Monat Associates at 9:09 AM \| 0 comments Friday, March 09, 2012 Fuss to investors: Avoid these fixed-income ETFs Dan Fuss, portfolio manager of the $20 billion Loomis Sayles Bond Fund (LSBRX), says market-cap-weighted ETFs make sense — just not when it comes to fixed income. Investing in an equity index, such as the S&P 500, makes sense because over a long period of time the index has a positive bias toward companies with rising market capitalizations, Mr. Fuss said. “In general, with equities, low turnover and low costs lead to better returns over a long time period,” he said. But when fixed-income exchange-traded funds are weighted by market cap — and most of them are — they are simply giving the largest weighting to the company that issues the most debt. Read more... posted by Charles Monat Associates at 12:19 PM \| 0 comments Friday, March 02, 2012 Q4 took toll on investors in HK, Singapore Investor confidence in Hong Kong and Singapore fell sharply in the fourth quarter of last year, according to the seventh Investor Attitudes study from Friends Provident International (FPI). Read more... posted by Charles Monat Associates at 5:17 PM \| 0 comments
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