The Taxing Issue of Testamentary Trusts - a Power Pair of recorded webinars

This Power Pair comprises 2 of our most popular estate planning webinars from the past few months.
 

Webinar 1:  Testamentary Trusts: Are they Always the Answer?

There are many factors to carefully balance when advising clients in relation to the best structure for their testamentary trusts. Unfortunately, this can be a process that is often rushed or not documented properly, leading to significant and expensive problems down the track, particularly if the problems are discovered only after the testator has lost testamentary capacity. This session will assist advisers to ‘get it right the first time’ when choosing and structuring testamentary trusts for their clients. In particular, this session will explore:

• What advisers should consider when structuring testamentary trusts including drafting tips as to whether testamentary trusts is mandatory under will vs optional, when it may be preferable to establish cascading testamentary trusts (and how)
• Issues which arise specifically to intergenerational testamentary trusts:
  • Trusts to benefit grandchildren
  • Effective control mechanisms to manage the passing of control across generations
  • Tips for managing which family members have control
  • Dealing with superannuation proceeds
• What good governance may look like when dealing with the passing of control in intergenerational testamentary trusts
• Practical case studies

Webinar 2:  When Assets of Testamentary Trusts Become Assets of the Beneficiaries: The Tax Implications

The lifespan of a testamentary trust will be reliant upon the terms of the deed. Some of those terms state that the trust is to exist for a number of generations, or until beneficiaries reach a certain age, or until a variety of other requirements are met. This session looks into the tax aspects of a TT that has assets remaining when it reaches the end of its life, including:

• Can a TT end before the conditions of its deed say it can?
• What are the tax consequences, if on the termination of a TT, the trustee:
  • sells CGT assets prior to, however in the same financial year, as the final distribution
  • transfers remaining CGT assets to beneficiaries?
• Can the trustee extend a vesting date, and if so:
  • are there any tax consequences?
• Can a discretionary TT continue to be discretionary if its vesting date has passed?
• When may beneficiaries be the “taxpayer” for a CGT asset, even though the asset is held or sold by a trustee of a TT, including:
  • why it may matter whether or not the asset in question is “fungible” (TR 2004/D25)
  • the tax treatment when there are multiple beneficiaries
• The tax implications when the CGT asset remaining on the cessation of a TT is a property remaining after the death of a life tenant, where:
  • the property is sold by the trustee and funds disbursed to remainder beneficiaries
  • the property is transferred to remaining beneficiaries
• Practical examples

SPECIAL PURCHASE OFFER - THE APRIL ADVANTAGE

This pair of recorded webinars would usually cost $539, but as part of April Advantage offer you can buy the pair for only $297 if you order by 19.4.24.