Estate Planning: Asset Protection
Your clients have worked hard to put themselves in the best financial position possible and they’re counting on you to help them stay in that position. But doing so is often far easier said than done. Wills are challenged, superannuation and tax laws change and a client’s personal situation can shift at a moment’s notice. In one info-packed morning you can master the strategies necessary to manage these issues throughout your client’s lifetime and upon death.
Description
Attend and earn 4 CPD points including:
1 point in Competency Area 2: Professional Skills
3 points in Competency Area 4: Substantive Law
This seminar was recorded in WA on 18 September 2018
Chairs: Michael Hodgkins, Partner and Lucy Dickens, Supervising Lawyer, Birman & Ride
Competency Area 2: Professional Skills
9.00am to 10.00am: How to Best Protect the Testamentary Wishes of Your Clients: Taking Instructions and Supervising the Execution of Wills
- Challenging wills on the ground of testamentary capacity is becoming very common: How do you best protect your elderly clients?
- Determining capacity and giving certainty that it won’t be contested
Presented by David Kirchner, Director, Templar Legal
10.00am to 11.00am: Drafting of Testamentary Trusts in Wills: Advantages And Disadvantages
- When should you use a testamentary trust?
- Advantages and disadvantages of creating a testamentary trust
- The optional vs the mandatory trust
- Understanding testamentary trusts in operation
Presented by Tim Pepper, Consultant, Robertson Hayles Lawyers
11.00am to 11.15am Morning Tea
11.15am to 12.15pm: Managing Assets to Avoid Family Provision Claims Against a Will
- Dealing with assets prior to death to avoid disputes
- Transferring assets prior to death
Presented by John Butler, Special Counsel & Principal, Butlers Lawyers & Notaries
12.15pm to 1.15pm: Estate Planning Strategies for Superannuation Clients
Due to the complex tax rules applicable for superannuation funds (in particular for funds with members receiving a pension), applying one strategy to all superannuation clients will likely negatively impact the final quantum of the death benefit payable to the member’s estate or intended beneficiaries. In this session you will:
- Evaluate the effectiveness of some common strategies used in estate planning to deal with the client’s superannuation interests
- Analyse the relevant tax and duty considerations for dealing with property in SMSFs following the death of a member
Presented by Yikai Hoe, Director, Provident Lawyers