Conference Highlights

Effective Asset Protection in Estate Planning - 4 program recorded series

An estate plan is useless if your client’s assets don’t end up in the right hands. So all good estate planning focus on asset protection as much as they do on taxation and control issues. Asset Protection is the focus of this four part webinar series: it examines the four key a.....

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Conference Highlights
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About the
Conference Highlights

An estate plan is useless if your client’s assets don’t end up in the right hands. So all good estate planning focus on asset protection as much as they do on taxation and control issues.

Asset Protection is the focus of this four part webinar series: it examines the four key asset protection risks and discusses what you can do to mitigate them:

How to get control over trusts and companies into the right hands
Protecting contributions from the bank of Mum and Dad
Protecting family trusts from NextGen’s failed personal relationships
Effective us of binding death benefit nominations

This series is drawn from our signature estate planning conference and features presentations from estate planning experts Greg Russo, Bryan Mitchell, Nathan Yii and from family specialist Barry Berger.

What you get

This on demand webinar series includes the following components:

Online access to the on-demand webinar programs. Programs average 55 minutes each in length.
The programs were recorded in March 2024 and are available now for immediate viewing.
Online access to the technical support papers and powerpoint presentations accompanying each program.

The Programs

Program 1: Session 1: Succession and Control in Intergenerational Business Estate Planning

The image of the family scions battling each other for control of the family business is not purely the stuff of television fiction, but a real issue for many families as their parents age. This session will examine the importance of estate planning for family businesses, the major issues that need to be managed and dispute risk minimisation, including:

Considering and meeting family expectations and concerns - the planning process and who should be involved
Advice for helping the older generation “let go”
Current structures, control mechanisms and processes and how to ensure validity and enforceability through to the next generation
Using shareholder and family agreements to achieve desired outcomes
Practical components of a staged succession process
Managing equalisation and accounting issues
Lessons from real life examples and cases

Program 2: Factoring Parental Loans into the Estate Plan

Parents are increasingly putting their hand in their pocket to assist their children as the price of houses rises and the economy experiences a downturn. The formalisation of this arrangement is essential in the context of asset protection and estate planning. This session will examine what needs to be included in a parent/child loan agreement and how to factor in existing loans on the death of the lender, including:

Gift or loan and legal presumptions
Drafting a loan agreement - key clauses
Repayments and other terms
Should the lender take security?
Taxation and other financial considerations
Treatment of parent to child loan agreements by the family and civil courts
Factoring loan agreements into estate planning
The consequences of the death of the lender
Record keeping and other tips.

Program 3: Hands Off: Protecting Family Trusts from the Ex-Laws

Relationship breakdowns are difficult enough, but the wider family members can also be impacted when a family trust and its assets become a target in proceedings in the Family Court. This session provides proactive advice and strategies for protecting family trusts from potential claims, including:

Relevant provisions of the Family Law Act pertaining to property of the parties
Jurisdiction of the Family Court when it comes to characterising and dealing with trusts
Trusts - an asset or financial resource? Why it makes a difference and an analysis of relevant cases
The ability of the Family Court to “bust the trust”
What aspects of control and contribution does the court look at?
Can a prior Binding Financial Agreement prevent consideration of a trust in divorce proceedings?
Strategies for minimising the vulnerability of discretionary trusts including drafting tips
Cases including Rigby & Kingston (No 4)[2021] FamCA 501; Woodcock & Woodcock (No 2)[2022] FedCFamC1F 173; Barrett & Winnie [2022] FedCFamC1A 99

Program 4: The Devil in the Detail of Binding Death Benefit Nominations

The consequences of invalid or lapsed binding death benefit nominations (BDBN) can be dire, not only for superannuation beneficiaries but also for the advisors involved. This session provides a guide to keeping the BDBN in compliance with the statutory and other requirements and examines the significant consequences of failure, including:

The nature, benefits and statutory requirements of a BDBN
Distinguishing BDBNs in SMSFs and in other funds
When does the three-year lapsing rule apply?
BDBN formalities and trust deed consistency - when will a BDBN be invalid and what can be done about it?
Auditing and regular reviews of super trust deeds for invalidity or being out of date
Drafting tips for clauses supporting indefinite non-lapsing BDBNs and avoiding risks of ambiguity or complexity
Can a BDBN have a secondary nomination if the primary nomination fails?
Cases including Hill v Zuda [2022] HCA 21; Walter William Nespolon v Lindy van Camp [2022] NSWSC 1190; Williams v Williams [2023] QSC 90; Munro & Anor v Munro & Anor [2015] QSC 61; Cantor Management Services Pty Ltd v Booth [2017] SASCFC 122