Estate Planning and Complex Probate Conference
Ask yourself this: What exactly is your client expecting? They expect you to have a thorough understanding of the intricacies of trusts and the latest strategies related to superannuation. They expect you to be at the cutting edge of digital and business assets and to be able to protect a family’s assets no matter how convoluted the circumstances. They expect you to be able to expertly handle any probate matter that arises, no matter how obscure or complex.
Description
Attend and earn 7 CPD units in Substantive Law
This conference was recorded in NSW on 6 September 2018
Session 1
Asset Protection Strategies
Chair: Mark Squire, Principal, Boulton, Julian, Squire Solicitors
9.00am to 10.00am: 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 2017; Recommended Wills & Estates Litigation Lawyer, Doyle’s Guide 2016
10.00am to 11.00am: Protecting Digital Assets: Wealth Preservation for the Business and the Person
- Significance of digital assets in the context of wealth preservation
- Recognising, managing and protecting intangible digital assets
- The latest legislation: defining digital currency
- Blockchain, bitcoin and more
- Practical strategies and examples
Presented by Michael Perkins, Leader, Private Client Practice, Nexus Law Group
11.00am to 11.15am Morning Tea
11.15am to 12.15pm: Superannuation and Estate Planning: New Rules, New Complexities, New Strategies
- New objectives and strategies with super becoming harder to access and saving becoming more difficult
- The new commencement cap and the impact on binding death benefit nominations, reversionary pensions and the impact on estate planning
- Updating binding super death benefit nominations and utilising powers of attorney
- Multiple investment structures and what to do with investments that no longer go into super: trusts, bonds and more
- Holding multiple super interests: pros and cons
Presented by Brian Hor, Special Counsel, Superannuation & Estate Planning, Townsends Business & Corporate Lawyers
12.15pm to 1.15pm: Estate Planning Strategies for the Blended Family
- The role of successful estate planning in minimising estate disputes within a blended family
- Balancing the needs of the second partner against the children of the first relationship (and any children of the subsequent relationship)
- Superannuation considerations
- Key considerations regarding eligible claimants under family provision claims
- Scenarios and case study for discussion
Presented by Paul Evans, Partner, Makinson d'Apice Lawyers; Accredited Specialist in Wills and Estates Law
Session 2
Problematic Probate
Chair: Mark Squire, Principal, Boulton, Julian, Squire Solicitors
2.00pm to 2.45pm: Complex Probate Applications and Unusual Beneficiaries
- Identifying the correct form of grant to be sought, what you need to prove, and the evidence you’ll need
- Limited grants of administration and unusual probate applications
- Rules, forms and procedures: complex applications for letters of administration
- Grants during minority, incapacity or the absence of the executor or administrator
- Grants to complete administration; grants pendente lite
- Informal testamentary documents; missing wills; attorney grants
Presented by Bruce Townsend, Barrister, Chalfont Chambers
2.45pm to 3.30pm: Costs in Contested Probate Proceedings
- Application of common law rules
- Relevant legislation and rules
- Tricky considerations involving the role, position and actions of the executor
- Recent case law and practical examples
Presented by Margaret Pringle, Barrister, Chalfont Chambers; Leading Wills & Estates Litigation Junior Counsel, Doyle’s Guide 2017
3.30pm to 3.45pm Afternoon Tea
3.45pm to 4.30pm: Managing Bankruptcy and Probate
- Property of the bankrupt includes an interest in a deceased estate
- The interest that vests in the Trustee in Bankruptcy is the right to have the deceased estate properly administered
- Bankruptcy time limits and vesting principles
- Recommended best practice for bankruptcy searches and when to conduct them
- How to limit your personal professional liability in a situation where there is an estate to be administered and either the beneficiary or Testator is deceased
- Family Provisions Act, a personal right which does not vest
Presented by Jim Johnson, Barrister, Frederick Jordan Chambers
4.30pm to 5.15pm: Probate Litigation Demystified
- The difference between the court sitting in its probate jurisdiction and as a court of construction
- Unique differences between probate litigation and normal adversarial litigation
- The fundamentals underpinning the court’s rules found in the UCPR and probate rules
- Solemn form vs common form grants
Presented by Peter Baltins, Partner, Willis & Bowring; Accredited Specialist in Wills & Estates Law; Leading Wills, Estates & Succession Planning Lawyer, and Recommended Estates Litigation Lawyer, Doyle’s Guide 2017