Complex Estate Planning and Trusts in Business Succession
Examine how to deal with companies & trusts, including testamentary trusts, discretionary trusts, protective trusts and life interests. Delve into the intricacies of preparing a complex estate plan. Gain strategies for SMSFs including pre-retirement vs pensioner planning, taxes and the impact of equity. Understand options available for inter vivos and testamentary philanthropic vehicles. This is a must attend seminar for all wills and estates practitioners.
Description
Attend and earn 6 CPD units in Substantive Law
This program is applicable to practitioners from all States & Territories
Chair: Jennifer Maher, Principal Lawyer, KCL Law; Accredited Specialist in Wills and Estates Law; Leading Wills & Estates Litigation Lawyers and Leading Wills, Estates & Succession Planning Lawyer, Doyle’s Guide 2020
9.00am to 10.00am: Death & Taxes: How Much Does the Taxman Want, and from Whom?
- Taxation of the deceased, beneficiaries and the deceased estate
- The stages of administration for taxation purposes
- Foreign beneficiaries, main residences, and superannuation benefits
- How an estate plan can prevent nasty taxation surprises
Presented by Neil Brydges, Principal Lawyer, Sladen Legal; Accredited Specialist in Tax Law
10.00am to 11.00am: Estate Planning and Trusts
- Inter vivos trusts and testamentary trusts: general planning considerations
- Types of trusts: discretionary, protective and life interests
- Succession of control
- Variation of trust deeds
- Trust tax and duty issues
- Sample clauses and illustrative fact scenarios
Presented by Greg Russo, Solicitor, Featherby’s Lawyers; Accredited Specialist in Wills and Estates Law; Recommended Wills & Estates Litigation Lawyer, Doyle’s Guide 2019
11.00am to 11.10am: Break
11.10am to 12.10pm: 2nd Generation Trusts: Pre-empting Sibling Conflict
Examine the options and constraints to be consider for a 2nd generation trust with shared control, including:
- Trustee income & capital resolutions
- Requirement for trustee income resolution by end of each financial year
- Power to allocate future income for future financial years
- Power to distribute trust capital, pre vesting of trust
- Vesting of trust, for example in the event of dispute
- Trustee powers
- Benefits other than income or capital
- Investment powers: secured & unsecured loans to beneficiaries
- Borrowing & loan security powers
- Non-transferable rights of occupation or use, eg trust owned beach house
- Amendments to trust deed
- Power to amend: just trustee vs trustee with appointor’s consent
- Avoiding fettering trustee’s discretion
- Avoiding triggering CGT event or dutiable transaction
Presented by Allan Swan, Director, Estate Planning Equation; Preeminent Wills, Estates & Succession Planning Lawyer and Recommended Wills & Estates Litigation Lawyer, Doyle’s Guide 2019
12.10pm to 1.10pm: Philanthropy and the International Client: Inter vivos and Testamentary Philanthropic Vehicles
- Worldwide trends in philanthropy and why it is so important
- Review of current options for inter vivos and testamentary philanthropic vehicles
- Public Ancillary Funds
- Private Ancillary Funds
- Testamentary Charitable Trusts
- How to have a discussion around philanthropy; private vs public
- Managing expectations when it comes to philanthropy: low term build for perpetual gain
- Case study: Commercial client, charitable outcome
Presented by Anna Hacker, National Manager, Estate Planning, Australian Unity Trustees Legal Services
1.10pm to 2.00pm: Lunch Break
Chair: David Davis, Principal, David Davis & Associates; Certified Tax Adviser
2.00pm to 3.00pm: Estate Planning & Superannuation
- Dependants: taxes and SISA
- Pre-retirement vs pensioner planning
- Nomination tips and traps; primacy of Deed
- Impacts of Equity: McIntosh; Re Marsella
Presented by Daniel Kelliher, Specialist Lawyer, Wills & Estates, Eastern Bridge Lawyers: Accredited Wills & Estates Specialist; Leading Wills, Estates & Succession Planning Lawyer and Recommended Wills & Estates Litigation Lawyer, Doyle’s Guide 2019
3.00pm to 4.00pm: Preparing a Complex Estate Plan
- Taking instructions and collecting information
- Solicitor duties and obligations
- Additional documents used in complex estate plans
- Potential pitfalls in complex estate plans
Presented by Clifford Hughes, Principal, Clifford Hughes & Associates; Accredited Specialist in Taxation Law; Accredited Specialist in Business Law
Presenters
Jennifer Maher, Principal Lawyer, KCL Law
Jennifer advises private businesses and high net worth families and individuals in relation to wealth transfer, asset protection, trusts, business structuring and succession planning.
Jennifer has handled a large number of family provision claims and has been involved in numerous estate and trust litigation cases as well as a number of significant cases in wills, estate and equity matters including cy-près applications. Her practice incorporates will making, estate planning, estate litigation, trust law, attorneyship, guardianship and aged care. Jennifer's clientele includes private clients, businesses, high net worth clients, trustee companies, private and public corporations, private family and business trusts.
Neil Brydges, Principal Lawyer, Sladen Legal
Neil focuses on taxation advice and disputes. His practice involves advice, audits, disputes, and transactions. The client mix includes family groups and business enterprises. Neil also regularly assists professional advisors, including tax agents, accountants and financial advisors, to understand complex legal issues and help them to better assist their own clients. Neil is a Chartered Tax Advisor with The Tax Institute. Taxation law is a complex area. Neil’s aim is to provide technical expertise to clients, commercially applied and in a friendly and approachable manner. Neil was named one of Australia's “Best Lawyers of the Year” in the practice of tax law, by Best Lawyers.
Greg Russo, Solicitor, Featherby’s Lawyers
Greg Russo is an LIV Wills and Estates Accredited Specialist, a Member of the LIV Specialist Accreditation Education Advisory Committee and the LIV Wills and Estates Advisory Committee. In the last few years he has organised, chaired, moderated and presented at a number of LIV events, mainly in the area of Wills and Estates.
Allan Swan, Director, Estate Planning Equation
Allan Swan works with private clients and their accountants, financial advisors and legal practitioners relating to the legal aspects of the following areas of preventative law: asset protection; deceased estate taxation; dispute prevention; estate planning; preventative law strategy; special disability & protective trusts; structuring; superannuation; tax considerations; testamentary & family trusts. Allan also provides practitioner training and speaking services in the above areas, is an adjunct lecturer in the College of Law’s applied law master’s wills and estates and estate planning program and an instructor to other professional bodies.
Anna Hacker, National Manager, Estate Planning, Australian Unity Trustees Legal Services
Anna manages a national legal team within Australian Unity Trustees Ltd with all aspects of succession law including corporate structures, charitable gift giving, testamentary trusts, protective trusts, special disability trusts, powers of attorney, SMSFs and family trusts. Anna has been practising as a legal practitioner for over a decade and is an accredited specialist in the area of Wills and Estates. Prior to transitioning to the trustee company industry, she worked in private practice, focussing on the field of Elder Law, gaining experience in estate litigation and administration. Anna regularly presents at seminars relating to estate planning, litigation and administration.
David Davis, Principal, David Davis & Associates
David practices in all aspects of estate and business succession planning, estate administration and estate litigation including Superannuation Complaints Tribunal, VCAT and the Supreme Court. He has contributed to the development of succession policy at state and federal levels, has led training and education intensives for professional groups including accountants, financial planners and solicitors, and presented at state and national conferences. He is past chair of the Law Institute of Victoria Elder Law Committee, a Certified Tax Adviser with the Tax Institute of Australia, and a member of the Human Research Ethics Committee at La Trobe University.
Clifford Hughes, Principal, Clifford Hughes & Associates
Clifford Hughes consults to legal, accounting and planning practices in respect of taxation, business structuring and succession issues for their clients. He is an Accredited Specialist in Taxation Law, an Accredited Specialist in Business Law and a Chartered Tax Adviser.
Daniel Kelliher, Specialist Lawyer, Wills & Estates, Eastern Bridge Lawyers
Daniel Kelliher has practiced at Eastern Bridge since July 2018, after completing 13 years heading the Estates and Estate Planning team at Russell Kennedy. Daniel's practice encompasses all aspects of Estate Planning & Trusts advice; Probate and Estate Administration; Estate, Trusts & occasional Superannuation Litigation. Daniel is Chair of the Victorian Branch of the Society of Trust and Estate Practitioners (STEP) and is also Chair of the Law Institute of Victoria (LIV) Specialist Advisory Committee for Wills and Estates. He has been an LIV Accredited Wills & Estates Specialist since July 1996.