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Guiding Clients Through Family Relationships

Published on 26 Jul 2012 | Took place at Edwards Marshall, Adelaide, SA

    When marriage or divorce is on the cards, accountants and lawyers are often the primary source of planning and risk management advice. This seminar provided insights into the core tax, legal and practical ‘coal face’ issues that advisers need to be aware of during each stage of the family relationship life cycle and identifies where advisers can work together to achieve an optimal outcome for their client.
    This seminar covered the various stages of a family relationship and with the use of practical case studies highklighted some of the most common financial / tax dilemmas including:
  • Asset Protection and ‘Trust Busting’ – will entities and structures established for the purpose of quarantining certain assets stand up to the scrutiny of the FamilyCourt?
  • binding Financial Agreements – when should they be used and are they effective?
  • the Accountant’s role – what are your risks; should you be acting; who is your client?
  • if the parties cannot agree on anything – what are the next steps and how are the assets valued?
  • formalising a resolution – the parties have successfully mediated a deal, but is it tax effective and is it binding?
  • Division 7A and property splits
  • CGT rollovers.

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

Individual sessions

A summary of the uncertain world of financial agreements

Author(s):  Jill Miller

This paper covers: 

  • summary of the uncertain world of financial agreements
    • introduction
    • key features of financial agreements
    • recent developments in relation to financial agreements
  • trust busting – discretionary trusts and the Family Court
  • general principles
  • how the Family Court treats trust assets
  • establishing effective control of a trust
  • some cases
  • specific scenarios.
Materials from this session:

The cracks in the relationship appear

Author(s):  Siobhan Parker

This paper covers:

  • duty of disclosure
  • what happens when Wendy engages a solicitor?
  • searches
  • what options are open to Wendy?
  • transactions to defeat claims – conclusion
  • case law – some examples of when the Court has set aside transactions
  • subpoenas
  • finality.
Materials from this session: