For those of you who didn’t see the first notice, I’m one of the volunteers working on bringing this exciting new opportunity to Miami. If you are at all interested in this topic, I encourage you to attend this free organizational meeting by clicking the “register now” button below.
STEP Miami, in conjunction with the STEP Contentious Trusts & Estates Special Interest Group, is hosting an organizational meeting on Wednesday June 10, 2015 from 6:00 PM to 8:00 PM at Northern Trust’s Downtown Miami office located at:
600 Brickell Avenue
Miami, FL 33131
What’s this all about?
According to a study reported on by the Wall Street Journal, as many as 70% of all families lose a part of their inherited wealth due to some form of estate dispute. There is no professional organization in South Florida today that addresses this serious problem from an international perspective. STEP Miami seeks to fill that gap.
The demand for this specialized forum has long existed in South Florida, but is rising sharply in recent years. The primary factor driving this growth trend is the increasing number of non-U.S. residents owning property or investments in Florida. For example, according to a September 2014 Report prepared by the National Association of Realtors, approximately 25% of all foreign home buyers in the U.S. buy in Florida. And a Miami Downtown Development Authority study found that more than 90% of the demand for new downtown Miami residential units came from foreign buyers; 65% were from South America. South Florida is also a growing hub for ultrahigh-net-worth Latin American families. A recent Knight Frank study found that Miami ranked sixth on a survey list of “most important” cities to UHNW individuals (London was first; New York was second).
This specialist group serves practitioners who are working with, or have an interest in, trusts and estate practice from a “contentious” angle (that’s polite UK speak for litigation). It provides a forum for sharing international trust and estate jurisprudence and marshaling expertise and best practices in dealing with trust and estate disputes on an international level.
Founded in 2000, the STEP Miami Branch is one of the largest and most active in the Americas. Consistent with the objectives of STEP, the Miami branch provides practitioners with access to high level trusts and estates resources for all its members. The branch is run by a committee of 12 directors and comprises an expanding membership of nearly 200 professionals from across Miami’s accountancy, legal, banking and fiduciary sectors.
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