Structuring for Asset Protection
Issues covered include: discretionary trusts, testamentary trusts, inter vivos trusts, succession planning, clawback mechanisms for trustees, taxation liabilities, CGT assets
Description
Different treatment of assets will have significant financial outcomes for your client, and some options will leave them more open to potential disputes. Understand how to deal with assets prior to death to avoid disputes, effective trust structures and strategic use of PPSR regulations.
Utilising Trusts for Maximum Asset Protection
- Discretionary trust strategies and outcomes
- Utilising a testamentary trust to isolate wealth from financial risk
- Inter vivos trusts and effective succession planning
- Key issues
- Property held in trust for another person
- Equitable interests in property held by another person
- Insolvency considerations
- The application of the Bankruptcy Act 1966
- Clawback mechanisms for trustees
- Taxation liabilities: checklist of what to watch out for
- CGT assets, taxing beneficiaries and children, gifts, land tax, stamp duty and more
Presented by Stephen Lynch, Director, Somerville Legal; Accredited Specialist in Wills & Estates Law; Recommended Wills, Estates & Succession Planning Lawyer, Doyle’s Guide 2018; Recommended Wills & Estates Litigation Lawyer, Doyle’s Guide 2018
This webinar will be streamed at AEDT
Accreditation
Attend and Earn 1 CPD Hour
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Presenters
Stephen Lynch is a director of Somerville Legal, practicing in both Sydney and the Newcastle/Hunter region. Stephen has specialised in the area of wills, probate, estate planning and succession for more than 15 years. His extensive experience includes the preparation of complex wills, including asset-protection measures such as testamentary trusts, and ensuring the proper consideration of superannuation in estate planning. Stephen is a member of the Society of Trust & Estate Practitioners, and is a Law Society Accredited Specialist in Wills & Estates. Stephen has been named in the prestigious Doyles List as one of NSW's top wills and estates lawyers in both the litigation and estate planning categories. Stephen also specialises in contested estates, including claims under the Family Provision legislation. In 2009, Stephen was involved in one of the first successful applications in NSW under the Succession Act for a court-authorised will for a person who had lost mental capacity. Stephen has written for the Lexis Nexis' Practical Guidance modules and authored the chapters on powers of attorney, enduring guardianship and capacity for the medical-legal textbook Legal and Forensic Medicine.