Drafting Essentials for Succession Lawyers– a recorded half-day online conference

Hear from the experts at this online conference. You can watch it on your computer or on your portable electronic device from anywhere.

The conference will be based on our highly successful video webinar technology: there'll be a chairperson and presentations.

One registration can be shared by colleagues within the same firm utilising the same login.

THE PROGRAM

Session 1: Drafting Specific Powers and Limitations in an Enduring Power of Attorney

Appointing an attorney to act on behalf of a person can safeguard that person’s interests and those of their family. The dilemma in drafting an enduring power of attorney is the nature and extent of the powers to be given to the attorney, particularly as these cannot be changed once the donor becomes incapacitated. This session will explore some of the drafting options, including:

• Attorney appointment and potential conflicts of interest
• The merits and pitfalls of having joint and several attorneys
• Broad powers v specific powers – determining the needs of the donor
• Options for limiting powers and drafting for precision:

• Commencement of the power of attorney

• Specific tasks or responsibilities
• Monetary and financial limitations
• Seeking professional advice
• Consulting family members
• Asset management at pre-defined time

• Case studies and examples

Session 2: Will Drafting: Managing Tricky Family Arrangements

The rise of increasingly complex family relationships, asset holdings and business structures have all impacted the way in which wills are drafted and assets are divided following death. This session will explore the more complex arrangements that a will may need to cover and how to incorporate these into the document, including:

• Rights of residence and life interests and ongoing costs and entitlement issues
• Drafting mutual wills – more trouble than they’re worth?
• Issues in passing on the family business and partnership interests
• Capital gains tax and other implications of asset sale and distribution
• The effect of asset distribution on a beneficiary’s Centrelink or other entitlements

Session 3: Key Elements of Special Purpose Trusts

Special purpose trusts are established to assist particular beneficiaries who may not be able to manage their own affairs. This session will provide a guide to the key terms in such trusts and drafting tips for ongoing trust management, including:

• Types of special purpose trusts and when to use them
• Inter vivos or testamentary? When should a trust be set up?
• What should the trust deed cover? Drafting guides for:

• Trustee appointment and replacement
• Relevant terms and conditions concerning asset holding and distribution
• Dispute management
• Variations
• Termination

• Legislative requirements and models for special disability trusts
• Tips for carrying out trust deed health-checks