Managing Risks to the Succession Plan - 3 program on-demand webinar series

Program 1: Keeping Superannuation Trustees on the Straight and Narrow

Ensuring superannuation is dealt with after death in the manner intended by the member requires careful planning, preparation and management. This session will provide a guide to practitioners in super - proofing one of their client’s biggest assets, including:

• Fitting superannuation into estate planning
• Why binding death nominations are essential and the consequences of failing to have one
• Duties of trustees and responsibilities for discretionary decision - making
• Deed drafting tips for minimising or limiting decision - making and risks
• When and how are superannuation trustees’ decisions reviewable?
• Strategies for managing disputes between the estate and a superfund
• Practitioner self - checks on client obligations and conflict of interest in disputes involving super funds and potential claimants
• Case update including Wareham v Marsella [2020] VSCA 92

Program 2: Are Promises made to be Broken? Options for Disappointed Beneficiaries

In the absence of standing to bring a family provision claim, reliance on proprietary estoppel may be a potential option for those who feel let down by the representations of a will - maker about testamentary intentions. This session will examine the key elements of a successful estoppel claim and recent cases, including:

• Who is able to bring a claim of promissory estoppel?
• What evidence is required to found a claim? How can a promise be proved?
• What degree of reliance on the promise must be shown?
• Does there need to be detriment on the part of the promisee and to what extent?
• What orders will the court make?
• When will compensation be awarded rather than specific performance?
• Cases including Stone v Kramer [2021] NSWSC 1456; Harris v Harris [2021] VSCA 138; Moore v Aubusson [2020] NSWSC 1466

Program 3: Disapproval and Removal: Showing Executors the Door

Courts are more willing to deal with executor bad behaviour than they have been in the past, but it’s no easy feat and can impose a heavy toll on family relationships and the management of the estate. This session will explore the options and processes involved in executor removal, including:

• Why executor appointment needs to be carefully considered upfront
• The risks of appointing family members and other interested parties
• Role and responsibilities of executors and where it can all go wrong
• What constitutes unacceptable behaviour?
• At what stage can an application be made to remove an executor?
• What is the process for removal?
• What will the courts consider in a removal application?
• Who pays the costs of an application for removal?
• Are there alternative options for managing a poorly performing executor?
• The courts and independent third - party appointments - a new solution?
• Recent cases including Re Hartley (deceased) [2020] QSC 251; Connock v Connock (in his capacity as the executor of Connock) [2021] VSC 64; Re Vasiliades; Pappas v Vasiliades [2021] VSC 720