Control Issues in the Estate Plan – recorded lunchtime 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, presentations and discussion.

One registration can be shared by colleagues within the same firm utilising the same login.

THE PROGRAM

Session 1: Estate Planning for Someone Who Has Lost Capacity

What can be done to establish a proper estate plan when you have a client who has lost capacity? This session examines what can be done to sort out the estate plan, including the making of statutory wills. It covers:

• Is there an EPOA? What steps can be taken?
• Applying to the relevant tribunal for a guardianship order
• What can be done to sort out trusts, companies and assets?
• The use of statutory wills to create an effective estate plan
• Recent cases

Session 2: Maintaining Control When the Appointor Loses Capacity

What sort of provisions should be in your trust deed and estate planning documentation to deal with loss of capacity? This session looks at the challenges when passing control from one generation to the next, how to do it effectively and avoid family disputes. This session covers:

• Should the trust deed directly deal with loss of capacity?
• How should loss of capacity be defined for these purposes?
• Who should take over?
  • An attorney under enduring power?
  • A successor family member?
• Sidestepping the problem – should you use a corporate appointor?
  • Dealing with director of the corporate appointor who loses capacity
  • It’s all about control – shareholders and voting the shares
  • Shareholder losing capacity – who exercises voting power?
• Structuring the loss of appointor capacity rules in the deed/constitution to minimize the risk of family fights – what approach is best?
  • Protecting the non-business parent from their children
  • Protecting siblings from each other
  • Balancing the interests of the second spouse and the children of the first marriage

Session 3: The Right Asset in the Right Place at the Right Time: Ownership and Control Issues in the Estate Plan

What happens when the testator has specific assets that s/he wants to pass onto specific beneficiaries, especially when the estate is held in a mix of entities including discretionary trusts, superannuation, in corporate structures and in the testator’s own name? This session considers ways to get ownership and control to the right person without triggering dire tax consequences, including:

• Using CGT rollovers:
  • ATO views on the Division 125 demerger provisions: TD 2019/D1
  • Small business restructure rollover to move assets from company into discretionary trust
• Considering stamp duty consequences:
  • Trust concessions available for trust splitting
• Using control mechanisms for economic ownership:
  • How would this operate?
  • Thinking about the commercial and personal practicalities