Tidying Up Trusts in the Estate Plan - a live half-day online conference

Online Conferences,Estate planning and Wills,Tidying Up Trusts in the Estate Plan - a live half-day online conference
Wednesday 13 May, 2020

Vic, NSW, Tas, ACT, Qld 1.30pm to 5pm
SA/NT 1.00pm to 4.30pm 
WA 11.30am to 3pm

REGISTER NOW!
6 WEEKS
UNTIL THE EVENT
.   .
 ABOUT THE ONLINE CONFERENCE

You can put your staff in the boardroom and watch it there.  You can watch it on your computer or on your portable electronic device.  All for the same low price.

The conference will be based on our highly successful video webinar technology: there’ll be a chairperson, a panel of experts, presentations and discussion – and you’ll have an opportunity to ask questions.


Session 1:  Bad Deeds: The Perils and Pitfalls of Older Trust Arrangements

Family trusts and testamentary trusts have been a well-used tool for asset protection and income management for many years. However, as a result of the impact of new legislation, case law and changing family or other circumstances, the instrument may not meet current needs and could expose the trust or beneficiaries to unwanted financial and other consequences. This practical session examines some of the problems in older trust deeds and will provide practical strategies for rectification, including:

·         Why might the trust deed need variation? Identifying reasons for change

·         Reviewing key clauses –death or incapacity of appointors and guardians, beneficiaries and trustees

·         Power to vary - the deed and State legislation

·         When to seek the assistance of the courts

·         Common law restrictions on variation and how they might apply

·         Changing a trustee - Corporations Law requirements

·         Drafting a deed of variation - tips and traps

·         ATO rulings and recent cases


Session 2: A Ticking Time Bomb: Options for Managing a Trust About to Vest

The issue of trust vesting has become particularly important in recent years, especially for those about to reach their vesting date with the associated obligations such as distribution of the assets. There may be a number of reasons to delay this date, including for financial and estate planning reasons. This session will look at the key considerations around trust vesting and the steps that can be taken to minimise or avoid potential liabilities, including:

  • Auditing the trust deed and preparing for the future

  • The concepts of perpetuity and vesting

  • What happens on the vesting date?

  • CGT and duty liabilities - how and when do they arise?

  • Other reasons for delaying the vesting date

  • Extending the vesting date under the terms of the trust deed

  • Court applications for extension - relevant legislation and cases

  • Rulings TR 2017/D10 and TR2018/6 - how the ATO will view trust vesting and date extensions

  • The South Australia solution - availability and practicalities

  • What to do when vesting is the only option


Session 3:  A Matter of Trust: Protecting Special Needs Family Members in the Estate Plan

The biggest single worry of parents with a special needs’ child is how to protect their child after the parents have passed away. This session will look at the options for setting up appropriate structures to safeguard the interests of special needs children, with a focus on protective trusts and special disability trusts. It covers:

  • Predicting the unpredictable – looking at the capacity and needs of the child into the future
  • Assessing ongoing physical, accommodation, medical, financial, social and other support required
  • Management of equality of distribution and sibling issues and heading off potential challenges to the estate
  • Setting up a protective trust in the Will to meet the needs of the beneficiary:
    • Asset share and distributions including family business arrangements

    • Balancing reliance by the child on government benefits and financial consequences

    • Appropriate limitations and conditions in the trust deed

    • Trustee selection and sibling involvement

  • The use of a special disability trust as an estate planning tool:
    • Eligibility criteria

    • Financial implications for the beneficiary and eligible family members

    • The model trust deed clauses and ensuring deed compliance

    • Assets and gifts

    • Tax treatment

    • What happens when an STD ends?

 THE FACULTY

Bernie O’Sullivan, Principal, Sladen Legal, Melbourne (Chair)

Matthew Burgess, Director, View Legal

Andrea Carrick, Director, AG Tax Lawyers, Melbourne

Angela Cornford-Scott, Director, Cornford-Scott Lawyers, Brisbane

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 FEEDBACK FROM PREVIOUS ONLINE CONFERENCES
  • It was just like being at a well run conference but in many ways better. 
  • This option is of great assistance to country practitioners.
  • The live online conference format worked well and made the speakers more engaging than a recording.
  • Our team used the boardroom.  We could talk and discuss the presentation without feeling we were imposing on others and you could submit a question, which we did.  All from the comfort of our own office.
  • The conference was well organised and the email links very useful.
CPD CERTIFICATE

Delegates registered to attend the LIVE event will receive a CPD certificate for attendance.  Lawyers can claim up to 3 CPD units/points – substantive law. Accountants can claim up to 3 CPD/Training hours.

EARLY BIRD REGISTRATION

If you register and pay by 17 April 2020 you will pay only $495 – a saving of $55 off the full price conference registration fee of $550.

 ENQUIRIES/ASSISTANCE
If you need assistance or have an enquiry, please do not hesitate to contact our Event Coordinator, Lisa Tran on (03) 8601 7709 or email: lisa@tved.net.au



© Television Education Network Pty Ltd 2020

Product Code: OEPMAY20
 Price:   $495.00 (Inclusive of GST)