Estate Planning CPD Catch-up Bundle – 3 CPD units

Take advantage of this limited offer to top up your CPD units ahead of next year’s CPD deadline.  These 3 recorded webinars represent excellent value for money.

These 3 recorded webinars are valued at $808.50 if purchased individually. Take advantage of this limited offer to top up your CPD units ahead of next year’s CPD deadline. These 3 recorded webinars represent excellent value for money at only $396 if you buy by 24.11.23.

Webinar 1:  The Loan Ranger: Protecting the Bank of Mum and Dad

Recorded:  19 July 2023

The pressures on parents to lend or give their adult children money has increased in line with the cost of living, leaving parents vulnerable and children potentially abusive. This session will set out some of the options available for providing loans which safeguard mum and dad and the rest of the family, including:

• Deciding on the appropriate mechanism for loan arrangements
• What are the essential clauses in a formal loan agreement?
• Repayment obligations, security and rights to secure in future
• When is a co-ownership agreement an option?
• Drafting for potential changes in circumstances
• Strategies for protecting the loan from future claims in the event of a relationship breakdown
• Implications and financial consequences of loan arrangements through family trusts
• Updating wills to reflect loans and directions to executors for forgiveness or collection
• Equalising bequests to other children to offset sibling loans
• Recent cases

Presented by:  Nathan Yii, Principal Lawyer, Chartered Tax Advisor and SMSF Specialist Advisor, Nathan Yii Lawyers, Melbourne, Vic

Webinar 2:  Not Happy Jan: Challenging Discretionary Trust Decisions

Recorded:  16 August 2023

As family trust control starts to move down the food chain from elderly and deceased parents to adult children, the quality of discretionary decision-making has come under increasing review and dissatisfaction, as evidenced by recent cases. This session will take an in-depth look at discretionary trustee decision-making and the role of the courts, including:

• What must a trustee consider in exercising their discretion?
• What are the grounds for challenging a decision?
• Who can challenge the decision and what evidence do they need?
• What access is available to information and documents concerning the decision?
• What is the responsibility and accountability of professional advisers to the trustee?
• What will the courts consider and what remedies are available?
• Should discretionary decision-making be restricted by a trust deed? Tips for drafting limitations
• Recent cases including Owies & Owies v JJE Nominees Pty Ltd [2022] VSCA 142; Cardaci v Filippo Primo Cardaci as executor of the estate of Marco Antonio Cardaci [2021] WASC 331; Baba v Sheehan [2021] NSWCA 58; Wareham v Marsella [2020]

Presented by:  Edward Skilton, Principal Lawyer, Sladen Legal, Melbourne, Vic
 

Webinar 3:  The Tax Aspects of the Executor’s Role (and the Impatient Beneficiary)

Recorded:  3 August 2023

Acting as an executor of a deceased estate is not without its challenges. Time limits, complex tax matters to address and the various personalities benefitting from the legacy can significantly increase the stress levels for most. This session focuses on the tax related aspects of the executor role, and provides an understanding of why the process requires a certain amount of time and patience, including:

• The time limits an executor should be mindful of
• How to access a deceased person’s tax and super data
• The tax obligations of executors and beneficiaries during the various stages of administration of a deceased estate (IT 2622)
• What are the executor obligations if the deceased:
  • operated a business as a sole trader?
  • was a partner in a business?
• Action to take if further assets are identified that haven’t had their tax implications disclosed in previous income tax returns
• When can the executor be personally liable for outstanding tax liabilities of the deceased or their estate? (PCG 2018/4)
• A checklist to cover ATO interaction, notifications and lodgements required
• Practical examples of providing for tax liabilities, including:
  • when a beneficiary is a non-resident
  • when a super death benefit is received

Presented by:  Kimberley Barnes, Associate, McInnes Wilson, Brisbane, Qld