The Role of Trusts in the Estate Plan – a recorded lunchtime online conference

Duration: Approximately 2.5 Hours

Hear from the experts at this online 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 and presentations.

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

THE PROGRAM

Session 1: Taking Charge: Control Dilemmas in Family Trust Management

One of the most difficult issues families face in succession planning is who should be trustee of a family trust when the parents who established it are no longer willing or able to continue. This session will provide a guide to control management issues and strategies for navigating and avoiding disputes, including:

• Assessing the current arrangements for the next generation
• Key factors in trustee selection and how involved should the family be in the decision?
• Is co-management a viable option?
• Deed compliance in trustee variation and appointment
• Tips for drafting appropriate mechanisms for managing disputes and deadlocks between trustee and beneficiaries
• When will a court remove a trustee in a family dispute?
• Cases and lessons from recent examples

Session 2: Tax and Testamentary Trusts: The Gift that Keeps on Giving

The benefits of testamentary trusts are many and varied, however the landscape is constantly shifting, as can be seen by recent measures involving minor beneficiaries. This session will provide a guide to the tax treatment of testamentary trusts and why these can be significantly more beneficial than inter-vivos trusts, including:

• When would a testamentary trust be appropriate for your client?
• Can a testamentary trust be established post-death in the absence of provisions in the will?
• How marginal tax rates make all the difference
• CGT benefits of testamentary trusts
• Recent reforms in concessional tax treatment for minor children and their practical implications
• Achieving tax effectiveness through trustee discretion
• Can beneficiaries under the trust include later born children?
• Can superannuation left to the estate be subject to a testamentary trust?
• Case studies and worked examples

Session 3: Protecting Vulnerable Family Members through Trusts

For a parent, the biggest concern throughout life is the care and welfare of their children. Nothing compounds this situation more than having a child who is vulnerable and has special needs. This session examines estate planning options to safeguard the interests of vulnerable family members, including:

• In what situations should a parent be considering a special arrangement for their child in their estate planning?
• What present and future needs should be considered?
• When is a Special Disability Trust an appropriate option?
• A deep dive into Special Disability Trusts including legislative requirements, eligibility, financial considerations and other requirements
• Has the need and effectiveness of Special Disability Trusts been impacted by the NDIS?
• The role of protective trusts for vulnerable beneficiaries – at what stage should these be established?
• Considerations for establishment of a protective trust, including:

• Asset shares and other family members
• Impact on government benefits and tax implications
• Appropriate limitations and conditions
• Trustee selection, control and sibling involvement