TEN runs webinars on SMSF audit on a regular basis. Our annual SMSF Audit conference is held at the Gold Coast each July and is very well regarded amongst SMSF auditors.
Subjects covered:
Subject: Succession Law CPD, Estate Planning CPD
Author: Justine Taylor & Daniel Bennett, Uther Webster & Evans
Every family and every relationship has its own nuances and subtleties that need to be individually catered for. This is particularly so when dealing with later in life relationships and blended families when viewed through, not only the estate planning lens, but also when appropriately advising on family law rights.
As Dixon J (of the Supreme Court of Victoria) observed in the context of legislation providing that marriage will revoke a prior will unless made in contemplation of marriage1 in Steel v Ifrah [2013] 199; 38 VR 19:2
“Marriage is an event that it is commonly understood to naturally affect a testator’s intentions about the distribution of his or her estate after death. Undoubtedly, the changing mores of Australian society concerning marriage, divorce, children, blended families and the holding and distribution of wealth and assets motivated the reform, in 1997, of the marriage revocation rule. Where once it might have been expected that a marriage would result in an intention not to distribute to the beneficiaries that had been selected prior to a marriage in order to favour the new husband or wife and the children of the union, the legislature considers it unsafe for the law to now make that assumption. An expectation of a second marriage, or a marriage following a union that resulted in children, may result in an intention to protect the entitlement of the children of that former union, rather than an intention to recognise the claims of or through a new marriage partner. What is important is that there be contemplation of a marriage when determining how, and to whom, one’s estate is to be distributed, because it is the making of a will without contemplation of the relevant circumstances that may apply when it comes into effect that is the mischief”.
This paper will be taking a cross jurisdictional and collaborative approach to specifically look at later in life relationships in drafting binding financial agreements, Wills and the estate plan, to specifically cater for blended families, subsequent marriages and/or later in life relationships.
Australians work long hours. In 2023, Australian employees worked an average of 280 hours of unpaid overtime. This includes the time employees spent staying late, working through their breaks, working weekends and taking calls and emails outside of their ordinary hours.
With remote working arrangements and four-day work weeks becoming increasingly common, many employees are looking for working arrangements that maximise their time out of the office and minimise unpaid hours.
Workplace laws are beginning to address the idea of the work/life balance, seeking ways to limit the amount of unpaid work performed by Australians.
With this in mind, a ‘right to disconnect’ has been inserted into the Fair Work Act 2009 (Cth) (FWA) which will take effect this year. This right will allow employees to reasonably refuse to monitor, read or respond to out of hours contact (right to disconnect).
____________________________
Our Free Reads are sourced from technical papers presented by our faculty at recent Webinars or Conferences.
“Prepare for the worst…”
The origins of this phrase aren’t easily identified, aside from it potentially being attributed to Benjamin Disraeli, a former British PM in the 1860s. Nonetheless, it is certainly a phrase worth remembering when drafting employment agreements. This is because there are generally two occasions when the parties will look at the contract in an employment relationship; first, when they sign it, and second, when either party is contemplating or has already begun the process of terminating the employment.
This is why it is so important to get the drafting right from day one, with particular attention given to the termination related clauses, so as to prepare for the end of the relationship. In preparing for the inevitable end of the relationship, it is first important to understand what objectives should be considered, as this will inform what types of clauses will be required.
____________________________
Our Free Reads are sourced from technical papers presented by our faculty at recent Webinars or Conferences.
