Family Law Trust, Tax and SMSF Strategies
Issues covered include: family law trusts, taxation, SMSF strategies, asset pool, access to documentation, SMSF investments, family law property settlements
Description
The number of trust, tax and SMSF issues that can arise in a family law matter are innumerable. Recognising the issues is key to bringing clarity to this complicated area and can be as simple as:
Step 1: Identify the asset pool and how to access documentation.
Step 2: Deal with SMSF investments and identify the pros and cons in splitting it as part of the settlement.
Step 3: Consider what tax implications might exist for property settlements and orders so that you know when to get a specialist involved
Attend and earn 3 CPD points including:
1 point in Competency Area 2: Professional Skills
2 points in Competency Area 4: Substantive Law
This program is applicable to practitioners from all States & Territories
Once seminars are completed, delegates from Western Australia may apply to The Law Society of Western Australia for family law specialist accreditation points. Each application is subject to approval by the Accreditation Committee on a case by case basis and approval is not guaranteed. Your request for points form and attached materials can be emailed to accreditation@lawsocietywa.asn.au
Chair: Lucy Thomas, Director, Paterson & Dowding; Accredited Family Law Specialist; Recommended Family & Divorce Lawyer, Doyle’s Guide 2018
2.00pm to 3.00pm: Identifying the Asset Pool and Steps to Access Documentation
- Key provisions of the Family Law Act 1975
- Identifying the existing legal and equitable interests of the parties including:
- Compiling the asset schedule
- How to identify if it is property of the parties to the marriage or de facto relationship or a financial resource
- The relevance of third parties and entities
- Considering documents required for valuations of different types of property and instructing a valuer
- Drafting requests or other documents relevant to the disclosure obligation
- Identifying issues relating to superannuation funds
Presented by Robyn Hadley, Consultant & Accredited Family Law Specialist, Kim Wilson & Co; Recommended Family & Divorce Lawyer and Family Lawyer (High-Value & Complex Property Matters), Doyle’s Guide 2018 and Adam Somerville-Brown, Director & Accredited Family Law Specialist, Kim Wilson & Co; Family Law Rising Star, Doyle’s Guide 2018
3.00pm to 4.00pm: SMSFs and Divorce: Tips, Traps and Strategies
- Valuation considerations
- Issues with unique investments within superannuation
- Tax and SIS implications
- Who has control, and have they done the right thing?
- Splitting super as part of the settlement: pros and cons
- Implications for de facto relationships
Presented by Jemma Sanderson, Director, Head of SMSF and Succession, Cooper Partners; SMSF Adviser of the Year 2019, Women in Finance Awards
4.00pm to 4.15pm Afternoon Tea
4.15pm to 5.15pm: Tax Implications for Property Settlements and Orders: Recognising the Alarm Bells and When to get the Specialist Involved
- Review of tax and duty rollovers
- Whose name can the rollovers of assets be made in?
- Consideration given for unrealised gains or losses of assets rolled over
- Timing of when rollovers should be made
- Division 7A and other tax issues in moving assets out of family companies and family trusts
- What is Division 7A?
- The tax consequences of Division 7A non-compliance
- The tax consequences of Division 7A compliance: Doing it right!
- Traps and tips
- Avoiding tax troubles when drafting property orders
- Who should get what!
- Capital gains and losses in poorly drafted orders or lack thereof
- Practical examples and case study
Presented by Mark De Luca, Partner, Armada Accountants & Advisors
Venue
Parmelia Hilton
Level 1, Meeting Room, 14 Mill Street
Perth 6000
WA
Australia
Directions
Nearby Public Transport:
Train Stations - The Esplanade Station
Bus Interchange - St Georges Terrace Cloisters Green
Parking information
Parmilia Hilton - Valet Parking only - Click here to view rates.
Convention Centre - 100 metres from Parmelia Hilton. Click here to view rates.