Providing Certainty and Control in the Estate Plan – 5 program on demand webinar series

A Matter of Trust: Impact of Trusts on the Estate Plan

Family trusts and testamentary trusts are a popular vehicle for asset protection and prudent financial management amongst family members. However, as a result of recent legislative changes, along with new case law, the landscape is shifting and it may be time for clients’ estate plans to receive a grease and oil change. This session examines these key changes and how they may impact the estate plan, including:

• Unpacking the recent excepted trust income reforms
  • how do these reforms limit tax concessions for minors receiving trust income?
  • are super assets considered to be outside of the deceased’s estate?
• When will a trust deed need variation? Identifying reasons for change
• Reviewing key clauses – vesting date, death or incapacity of appointors and guardians, beneficiaries and variation
• What happens on the vesting date?
• Is the door now open to South Australian trusts? Examining impact of Clark v Ebden [2020] SASC
• Case update, including Callus v KB Investments [2020] VSC 135

Shareholder Agreements in Wealthy Families – An Estate Planning Perspective

The estate plan is in place and one more piece of the puzzle is required - a shareholder agreement. This session looks at these with a practical focus. It includes:

• Shareholder agreements and estate planning – an overview
• Nature of shareholder agreements and difference from buy-sell agreements
• Adapting agreement for other business vehicles
• Key inclusions in shareholder agreements:
  • board appointment
  • employing family members
  • shareholder powers
  • dispute resolution
  • allotment and transfer of shares
  • termination
• Structuring the shareholders agreement to meet estate planning goals
• Shareholder agreement’s role in tax effectiveness
• Case study – when the estate plan is at odds with the shareholders agreement

Maximising Super: It’s Time to get Strategic

Superannuation forms a large part of a client’s wealth outside of their personal estate. However, not all super strategies are created equal. This session provides advanced planning strategies to maximise the impact of super, with a focus on contributions and pensions. It covers:

• Tax effective pension strategies
• Reversionary v non-reversionary pensions
• Optimising the amount held in tax free retirement phase
• When should you restructure a member’s retirement phase pensions?
• Contributions to suit your client’s long-term estate plan
• Combining benefit withdrawal and contribution strategies
• Death benefits and the transfer balance cap
• Assessing the impact of COVID-19 on super

Restructuring Arrangements: Making the Most of the Small Business CGT Concessions

When reviewing a client’s estate plan, advisers may discover that certain assets are not sitting in the right structure. This session examines how advisers can use the small business CGT concessions to restructure assets, without triggering significant tax consequences. It covers:

• When is it appropriate to restructure assets to pass on to the next generation?
• Issues to consider when moving assets within family group
• Options for restructuring assets into separate companies
• When is an asset an active asset?
• Deriving capital proceeds to enable the use of the CGT concessions
• Understanding how to identify market value
• Getting the money into the hands of individuals

Fraud on a Power and the Power of Variation in Trusts

This session looks at the established trust principle of fraud on a power and how it may impact estate plans with an invalid exercise of trustee discretion. This session includes:

• What is fraud on a power and when can it arise?
• How invalid exercise of discretion can impact estate planning
• Exercising discretion to avoid a fraud on a power
• Avoiding a fraud on a power – looking an intention of the settlor
• Spotlight on power of variation or amendment
• How to properly draft power of amendment to avoid issues down the track
• Case update