Top Recommended Tax & Trust Lawyers
Simon Weil’s varied practice spans everything from contentious trusts to advising the government on charitable tax vehicles and representing sophisticated global givers. So it’s no wonder he was Spear’s Philanthropy Adviser of the Year in 2016.
Weil caters to an increasingly philanthropically minded HNW client base. The mood, he says, is for giving along the more open American model. ‘What is becoming apparent, which I think is very encouraging, is that big banks and big law firms are finding themselves prompted by client demand to offer philanthropy in a way they haven’t needed to in the past,’ he says.
Not only is philanthropy on an upward curve in the UK, but global UHNWs are increasingly creating charitable foundations. Weil attributes the trend to the fact that the UK has less red tape in this area. But trouble still looms: information exchange via the
CRS potentially enables ‘despotic governments’ to have significant control over data about charity owners and founders.
‘The register of beneficial ownerships can render families vulnerable on the kidnapping front, particularly in Latin America,’ he says. ‘In the drive for transparency, people tend to ignore the consequences – that’s a worry.’