Strategic Estate Planning for Optimising Clients’ Assets – a recorded lunchtime online conference

Hear from the experts at this online lunchtime conference. You can watch it on your computer or on your portable electronic device from anywhere.

The conference will be based on our highly successful video webinar technology: there'll be a chairperson, presentations and you'll have an opportunity to ask questions via online chat.

The conference will be chaired by: Bernie O’Sullivan, Principal, Sladen Legal, Melbourne, Vic

Session 1: Minor Beneficiaries in Testamentary Trusts: Unlocking the Full Potential

The reforms to tax concessions available to minors receiving income from testamentary trusts have been in operation for several years, yet still causes confusion and concern for legal practitioners and accountants. This session takes a deep dive into the legislation and raises the issues and potential solutions for successful use of this avenue for tax effective distributions, including:

• How are existing testamentary trusts impacted by the reforms?
• Which beneficiaries can take advantage of the concessional arrangements?
• Income derivation rules for taking advantage of the concessional arrangements
• How do the Origin Conditions restrict the income allowed?
• Can a second deceased estate provide a later contribution to the assets of the testamentary trust?
• How are the activities of a testamentary trust, including “injected assets” impacted by the rules?
• Why separate accounting procedures are now essential and other record keeping requirements
• Are testamentary trusts still attractive for minor beneficiaries?
• Practical case studies

Session 2: More than a Matter of Housekeeping: Life Tenancies and Rights to Reside

Complex blended family dynamics arising from successive relationships have resulted in the family home becoming a central issue in estate planning. This session will take a deep dive into the risks and benefits of the various options for limited “housekeeping” for the partner left behind, including:

• Types of blended families
• What is adequate provision for a spouse?
• Keeping everyone happy – providing for a current spouse and children from a prior relationship – avoiding challenges
• The fundamental differences between a life tenancy and a right to reside
• What conditions or limitations can be attached to the trust?
• The ongoing role of the executor and trustee
• Tips for taking ageing and health into account - can the property be used to fund aged care?
• When can a property be assumed to have been vacated? Can the life tenant and remaindermen collapse the trust and divide the assets between them?
• Financial and taxation consequences for the estate and the life tenant and the remaindermen
• Drafting guide
• Worked examples

Session 3: Musical Chairs: Where to Position Superannuation in the Estate Plan?

With superannuation coming in all shapes and sizes, and as an asset outside the personal estate, very real thought about what should happen to it either before or after death is needed in estate planning. This session will highlight some of the key considerations practitioners should have in mind when advising clients, including:

• Types of blended families
• What is adequate provision for a spouse?
• Keeping everyone happy – providing for a current spouse and children from a prior relationship – avoiding challenges
• The fundamental differences between a life tenancy and a right to reside
• What conditions or limitations can be attached to the trust?
• The ongoing role of the executor and trustee
• Tips for taking ageing and health into account - can the property be used to fund aged care?
• When can a property be assumed to have been vacated? Can the life tenant and remaindermen collapse the trust and divide the assets between them?
• Financial and taxation consequences for the estate and the life tenant and the remaindermen
• Drafting guide
• Worked examples