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: Tax Imperatives for Family Lawyers
A recent High Court case has found that a tax debt of one spouse can be shifted to another during a divorce property settlement. This significant decision, along with the recent Full Federal Court decision of Ellison v Sandini Pty Ltd is a timely reminder for family lawyers of the need to consider tax in property settlements. This session unpacks these important decisions and provides a tax law perspective on preparing settlement orders. It covers:
- Treatment of tax debts following Commissioner of Taxation v Tomaras
- When should the more financial spouse consider discharging the tax debt by other means?
- Considering CGT implications and rollover relief in family law property settlements
- Lessons from Ellison v Sandini.
- The use of the ‘and/or nominee’ clauses in property consent orders
- Circumstances where you do not want the CGT rollover to apply
- Transfers of assets and payments from private companies – application of Division 7A
- Who bears top-up tax liability?
- How can family lawyers mitigate the risks of future tax liabilities?
Session 2: Estate Planning for Family Lawyers: Meeting at the Crossroads
Family law practitioners are not just a litigator and dispute resolution specialist. They also need to help manage risks to prevent family law headaches in the future. This session examines the intersect between estate planning and family law and how to best manage future risks, including:
- Understanding how a client owns assets and how they will be treated:
- assets in discretionary trusts
- super funds
- jointly owned property
- assets in personal name subject to loans
- Identifying and balancing the needs of competing beneficiaries
- Choice of executors
- The role of powers of attorney
- Use of testamentary trusts in estate planning – what does a family lawyer need to know?
- Relevance of financial agreements in family provision claims
- Case study: Estate planning for blended families
Session 3: When Bankruptcy and Family Law Collide
When relationship breakdown coincides with bankruptcy, a messy situation becomes a whole lot more complicated. This session examines how family law proceedings are impacted by bankruptcy of a party, including:
- Bankrupt’s standing in family law proceedings
- Clawback powers – how this impacts family court proceedings
- Dealing with unsecured debts
- How are interests of a trustee in bankruptcy relevant to section 79 of the Family Law Act?
- Creditors versus non-bankrupt spouse
- Rights of creditors versus trustees in bankruptcy to set aside financial agreements
- Rights of trustees in bankruptcy under section 75(2)(ha) of the Family Law Act
- Cost issues and bankruptcy in family law proceedings
- Case law update