Each member of an SMSF should implement and review a personal succession plan suitable for their individual circumstances. It is the only way to ensure that the right people receive the intended proportion of SMSF assets at the right time, and that the right people maintain control. This session looks at the key issues involved, including:
Small business owners looking to exit their business have a range of options available. Picking the right one depends on a range of factors, including tax effectiveness.
This session considers:
Business exit through family or management buy outs
Buy-sell agreements – use and funding issues
Use of employee option and share arrangements and their income tax consequences including tax timing and valuation
Family/shareholder/unitholder agreements
Will this create a CGT event? TD 2012/21
Performance managing an employee who has a mental illness is complex. Employers need to walk a tightrope between anti-discrimination laws and work, health and safety laws. How can an employer best manage its obligations when performance managing employees with mental illnesses?
Wealthy parents often place a large amount of pressure on their children before getting married to enter into a “pre-nup”. This session looks at best practice procedures that should be aspired to in preparing financial agreements, particularly when protecting multi-generational wealth. It includes:
This webinar comprises 3 one-hour sessions covering each of the compulsory CPD subjects for succession lawyers for the CPD year ending 31 March 2019. Session 1: Legal Ethics: Ethical Dilemmas in Maintaining Confidentiality in Wills and Estates Matters Maintaining confidentiality is a fundamental component of the solicitor / client relationship. However, difficult ethical conundrums can arise in practice, particularly in succession law matters.
Maintaining control from the grave will always be part of the asset protection paradigm. This session looks at estate planning strategies from the perspective of risk management in asset protection. This practical session includes:
Assessing the use of testamentary trusts in your estate plan
Managing CGT liability in testamentary trust asset structures
Assessing use of life interests in estate planning – splitting ownership and use
Use of life interests in blended families
An employee has breached their contract and engaged in misconduct, such as theft. Sounds like you have a valid reason to terminate, right? Not necessarily. You need to get the process right. This session examines how to safely navigate a termination and protect your organisation from the risk of an unfair dismissal claim. It covers:
Grounds for termination – do you have a valid reason to dismiss an employee?
Communicating with the employee – best practice guidance
Adopting a genuine process of investigation
It is vital for SMSF auditors to have the required documentation to back up their findings and opinions in the audit. The session looks at the key audit documentation, their construction and how they are used in addressing audit risk, including:
Key inclusions in letter of audit engagement
The audit plan - what should this contain?
Financial statement audit program
Compliance audit program
Management letter addressing different findings in audit
A well-prepared affidavit is the backbone of many family law proceedings. This hands-on session examines some big issues on drafting of affidavits in both parenting and property settlement matters that will benefit your practice and your clients. It covers: Affidavits and the rules of evidence in family law matters – how it impacts your drafting Drafting affidavits for clarity and admissibility
Regardless of whether you are the vendor or the purchaser, due diligence is essential. But what does it involve and what level of enquiry is necessary? These questions are answered in this session: Vendor due diligence: Who should undertake vendor due diligence? – third party reports The benefits of vendor due diligence – transaction risk management