The Bullet Proof Estate Plan: A One Day TEN Point Masterclass (10 CPD units)

conference
Wednesday 5 February 2020

9am to 5.25pm

Radisson Hotel & Suites, Sydney

REGISTER NOW!
8 WEEKS
UNTIL THE EVENT
.   .
 10 CPD UNITS - CPD CERTIFICATE

Earn 10 CPD units including the compulsory subjects by attending this one-day Masterclass.  7 substantive law units at the Masterclass and we’ll supply 3 free recorded video webinars covering each of the compulsory subjects to view at your leisure.  So all up you will earn your 10 CPD units for this CPD year.  All delegates will receive a CPD certificate following the conference.

THE PROGRAM

Estate planners continue to grapple with client demands for certainty and the need for flexible planning that can adapt to fix problems or when the client’s circumstances change. This one day masterclass will address these areas and the impact family dynamics can have on the estate plan. The afternoon sessions are designed to deepen your knowledge of estate planning tax issues with the tax landscape constantly evolving and the challenges facing advisers continuing to grow.
 

Family Dynamics and the Estate Plan

  • Future-proofing the Estate Plan to Minimise Challenges

  • Dodging the Traps with Inter-Generational Living Arrangements

  • Estate Planning for Second Spouses and Children of First Marriages

  • The Wisdom of Solomon - How to Ensure Equalisation in Estates

Tax and Business Succession Issues

  • Estate Planning Strategies when the Family Trust is Vesting

  • Dealing with Loan Accounts and Unpaid Present Entitlements in the Estate Plan

  • Dealing with Business Succession Asset Protection in Family Businesses

  -  
 THE FACULTY

Gerard Basha, Partner, Bartier Perry, Sydney (Chair)

Robert Monahan, Principal, Monahan Estate Planning, Sydney

John de Groot, Special Counsel, de Groots Wills and Estates Lawyers, Brisbane, Sydney & Melbourne

Katelin Whitley, Principal, Bestic Law, Sydney

Paul Evans, Partner, Makinson d’Apice Lawyers, Sydney

Raymond Lim, Solicitor-Director, TEP Legal, Sydney

Scott Whitla, Partner, McCullough Robertson, Brisbane

Michelle Hartman, Tax Partner, Deloitte Private, Sydney

 EARLY BIRD REGISTRATION OFFER

If you register and pay by 13 December 2019 you will pay only $880a saving of $110 off the full price conference registration fee of $990 AND you will receive a free bottle of Bollinger Champagne!

Multiple registration discount?  If you would like to send more than one person from your company to this masterclass, please ask Jenna about the discounts available for multiple registrations:  The more you send, the greater the discount.  jenna@tved.net.au or phone (03) 8601 7729.

 ENQUIRIES/ASSISTANCE
If you need assistance or have an enquiry, please do not hesitate to contact our Conference Coordinator, Jenna Pickrell on (03) 96702055 or email: jenna@tved.net.au
Product Code: SXEFEB20
 Price:   $880.00 (Inclusive of GST)
 


conference
Wednesday 5 February 2020

9am to 1.20pm

Radisson Hotel & Suites, Sydney

REGISTER NOW!
8 WEEKS
UNTIL THE EVENT
.   .
 ABOUT THE HALF DAY MASTERCLASS

Estate planners continue to grapple with client demands for certainty and the need for flexible planning that can adapt to fix problems or when the client’s circumstances change. This half day masterclass will address these areas and the impact family dynamics can have on the estate plan, with sessions on how to future-proof the estate plan, managing inter-generational living arrangements, and effective estate planning for second spouses and children of first marriage.


Future-proofing the Estate Plan to Minimise Challenges

What steps can an estate planner take to minimise the risk of challenge to the estate post-death? This session considers the use of contractual arrangements to protect the estate plan, including:

  • Ways to manage family provision claims:

    • the use of binding financial agreements - can they prevent a claim?

    • release of family provision claim entitlements - when is this an option?

  • Inter vivos strategies:

    • gifting assets to intended beneficiaries

    • transferring assets into tailored discretionary trust

    • gift and loan back arrangements

  • Mutual wills and option agreements

  • Documenting decisions to exclude a potential beneficiary from the will:

    • do you need an affidavit or statutory declaration?

    • has the testator been advised about consequences and potential risks?


Dodging the Traps with Inter-Generational Living Arrangements

Many families embark on intergenerational living arrangements without due consideration for legalities or the risks of changes in circumstances in the future. This session considers the issues that can arise and provides strategies for how to manage the risks, including:

  • Issues around granny flats or annexed houses:

    • managing Centrelink: gifting money and granting a licence to occupy

    • provisions where the arrangements aren’t suitable for either party

    • what happens when the parent moves into a nursing home?

    • should the parental contribution to the granny flat be a loan or gift? Is there security offered?

    • where the siblings are at war - structuring to avoid conflict after death

    • incorporating effective dispute mechanisms and allowing for ‘what if’ situations

  • Rights and obligations where younger generation is providing almost full-time care


Estate Planning for Second Spouses and Children of First Marriages

Each unhappy family is unhappy in its own way, and a blended family increases the likelihood of unhappiness when it comes to estate planning. When a blended family consists of adult children of the first relationship and minor children of the second, there is a tension between the needs of the minor children and the expectations of the adults. This session reviews the practical issues that often arise in the context of blended families and how to deal with these, including:

  • Identifying the needs of the surviving spouse, minor children vs adult children of the previous relationship

  • Using testamentary trusts to ensure the surviving spouse is taken care of whilst guaranteeing residual capital to the children

  • Mutual wills - what can you do to avoid the second partner spending the entire estate and the adult children missing out?

  • The sufficiency of a life interest over the family home - keeping the second spouse and adult children from the first marriage happy

  • The advantages and disadvantages of providing the spouse with a right to reside in the main residence

  • Second spouse planning and SMSFs


The Wisdom of Solomon - How to Ensure Equalisation in Estates

Many parents wish to leave their estates split equally between their children. In practice this can be challenging to achieve because of the specific facts and circumstances which apply for each child. This session considers when equalisation challenges arise, including:

  • Tax equalisation issues:

    • resident versus non-resident beneficiaries

    • splitting the family home

    • who should bear the tax? Achieving tax equalisation through the will

  • What happens when different children receive different assets - how is parity of value to be achieved?

    • managing fluctuations in asset value between the time of the will and the date of death

  • Assets held in parents’ name but substantially paid for by child:

    • getting assets out of the estate pool without tax and duty implications

    • constructive trust issues

 THE FACULTY

Gerard Basha, Partner, Bartier Perry, Sydney (Chair)

Robert Monahan, Principal, Monahan Estate Planning, Sydney

John de Groot, Special Counsel, de Groots Wills and Estates Lawyers, Brisbane, Sydney & Melbourne

Katelin Whitley, Principal, Bestic Law, Sydney

Michelle Hartman, Tax Partner, Deloitte Private, Sydney

  -  
 EARLY BIRD REGISTRATION OFFER

If you register and pay by 13 December 2019 you will pay only $440a saving of $55 off the full price registration fee of $495.

Multiple registration discount?  If you would like to send more than one person from your company to this masterclass, please ask Jenna about the discounts available for multiple registrations:  The more you send, the greater the discount.  jenna@tved.net.au or phone (03) 8601 7729.

 ENQUIRIES/ASSISTANCE
If you need assistance or have an enquiry, please do not hesitate to contact our Conference Coordinator, Jenna Pickrell on (03) 96702055 or email: jenna@tved.net.au
Product Code: SXEFEB20M
 Price:   $440.00 (Inclusive of GST)
 

conference
Wednesday 5 February 2020

2.00 to 5.25pm

Radisson Hotel & Suites, Sydney

REGISTER NOW!
8 WEEKS
UNTIL THE EVENT
.   .
 ABOUT THE HALF DAY MASTERCLASS

The tax landscape is constantly evolving and the challenges facing advisers continue to grow. This half day masterclass is designed for lawyers and accountants seeking to deepen their knowledge of estate planning tax issues.


Estate Planning Strategies when the Family Trust is Vesting

When a family discretionary trust vests, beneficiaries’ interests become fixed, and significant tax consequences may arise. The ATO’s 2018 tax ruling on the vesting of trusts makes it clear that once a trust vests, there is no action that can be taken to turn back the clock for tax purposes. This session explores the options available to advisers when clients are living with a trust that has vested, or where a vesting date is imminent. It covers:

  • The trust has vested - now what?
  • Understanding TR 2018/6 Income tax: trust vesting - consequences of a trust vesting:
  • Does vesting trigger any income tax consequences?
  • Unwinding an ineffective distribution - what do trustees need to consider?
  • What does the ATO ruling mean for the second generation of family trusts?
  • Varying the vesting date:
  • When is it possible?
  • Will extension of a vesting date trigger resettlement?
  • Planning around an inevitable vesting - directing the trust assets and exploring restructuring opportunities 
  • Is it time to revisit South Australian trusts?
  • Is it possible to convert an existing trust to a SA trust with perpetual succession?
  • The degree of connection required to SA


Dealing with Loan Accounts and Unpaid Present Entitlements in the Estate Plan

Loans and unpaid present entitlements are a given with any family group with a complex structure in place.  Ensuring that they are dealt with appropriately is key to ensuring your estate plan holds up. This session covers:

  • Finding the credit and debit loans and UPEs in the family structure

  • Dealing with loans:

    • forgiving them before death - CDF rules, Div 7A and other tax risks

    • forgiving loans at death

    • assigning the loans to third parties for less than market value

    • asset protection implications of dealing with loans

    • traps in dealing with loans from trusts

  • Dealing with unpaid present entitlements:

    • basis on which you can extinguish a UPE

    • UPEs to children - assignment and extinguishment

    • paying out the UPE

    • dealing with the UPE in the will


Dealing with Business Succession Asset Protection in Family Businesses

Putting in place a business succession plan for your family business is only half the battle. The other half is ensuring it properly protects assets. Both must be aligned to maximize control and minimise disputes down the track. This session examines the key issues, including:

  • The role of the appointor in family business succession planning

  • Understanding the importance of the trustee of the family trust in business succession

  • Asset protection and entity structuring – controlling the threat of litigation

  • Managing the threat of competing family interests in business succession

  • Factoring in retirement plans early as an asset protection strategy

  • Creating a family constitution or deed of family arrangement

  • Use of special purpose trusts

  • Assessing when to assign rights in property

 THE FACULTY

Gerard Basha, Partner, Bartier Perry, Sydney (Chair)

Paul Evans, Partner, Makinson d’Apice Lawyers, Sydney

Raymond Lim, Solicitor-Director, TEP Legal, Sydney

Scott Whitla, Partner, McCullough Robertson, Brisbane

  -  
 EARLY BIRD REGISTRATION OFFER

If you register and pay by 13 December 2019 you will pay only $440a saving of $55 off the full price registration fee of $495.

Multiple registration discount?  If you would like to send more than one person from your company to this masterclass, please ask Jenna about the discounts available for multiple registrations:  The more you send, the greater the discount.  jenna@tved.net.au or phone (03) 8601 7729.

 ENQUIRIES/ASSISTANCE
If you need assistance or have an enquiry, please do not hesitate to contact our Conference Coordinator, Jenna Pickrell on (03) 96702055 or email: jenna@tved.net.au
Product Code: SXEFEB20A
 Price:   $440.00 (Inclusive of GST)