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Estate and Succession Planning Masterclass

Published on 30 Oct 2013 | Took place at RACV Club, Melbourne, VIC

    As the ‘baby boomer’ generation looks towards retirement and beyond, more and more clients are seeking advice on when and how to pass their businesses and personal wealth to the next generation. As advisers, it is critical to understand the most effective ways to achieve this from a tax, asset protection and commercial perspective. This seminar included a variety of speakers presenting on a range of estate and succession planning topics affecting individuals, companies, trusts and superannuation funds. The topics will be both from the perspective of what will happen on death and also what steps should be taken pre-death to give effect to your client’s objectives.
    Topics covered included:
  • ways to offer Estate Planning Services
  • divorce, ageing and death – what happens when one spouse dies?
  • tools for tax effective pre death structuring and succession planning.

Get a 20% discount when you buy all the items from this event.

Individual sessions

Should you offer estate planning to your clients?

Author(s):  Bernie O'SULLIVAN

Your website probably says that you provide estate planning and business succession advice. But what advice are you really providing, and are you doing this in the most cost-effective way? With an ageing client base, now is the time to get your succession services into order but you need to be aware of both the risks and opportunities.

This practical paper discusses:

  • what to tell clients about your estate and succession planning services
  • when is advice‚ legal advice?
  • what is an estate plan?
  • what is the best way to engage a lawyer
  • how to protect your role as the client’s trusted adviser.
Materials from this session:

Divorce, death and aging - What happens when one spouse dies?

Author(s):  Wendy Kayler-Thomson

In late 2012, the High Court of Australia delivered a landmark judgment on the rights of an estate of a deceased person to still claim a family law property settlement from the surviving spouse. The case reflects the increasing use of family law proceedings by adult children of blended families seeking to 'protect' their inheritance.

This paper provides you with an update on the ramifications of the High Court's decision in Stanford, and how it impacts on the family law rights of surviving spouses, ageing couples and blended families. It discuss the key issues for advisors to be aware of when dealing with separated clients and ageing couples.

In addition to entitlements to a family law property settlement after the death of one spouse, it also discusses the law relating to the care of children when one parent dies. Blended families are increasingly common, and this paper addresses the often competing rights and responsibilities of biological parents and step-parents.

Materials from this session:

Tools for tax effective pre death structuring and succession planning

Author(s):  Carlos Barros

In order to give effect to a client’s succession objectives it is often necessary to undertake some asset restructuring or divestment pre-retirement or pre-death to ensure that assets are passed to the next generation without unintended tax abrasion. Most advisors are aware that to position your client in a suitable light, the narrow and complex, high road of specific tax exemptions has to be well charted and trodden carefully.

This paper provides consideration of key issues arising in this context:

  • recognised concessions and tax implications available following death
  • commercial considerations/tax implications in passing assets before death
  • common reasons for pre-death restructures
  • relevant CGT roll-overs including CGT small business concessions
  • stamp duty exemptions and relief
  • GST considerations for business restructures.
Materials from this session: