The Life and Death of Trusts: A One Day Trusts Masterclass

This masterclass has been designed for NSW lawyers and focuses on Trusts from life to death.

The Life Death of Family Discretionary Trusts

• Family Discretionary Trusts – Protecting the Family Jewels and Maintaining Harmony - The main advantages of family trusts are to protect assets and reduce tax. However, family trusts are vulnerable to attack and depredation – particularly from within. This session examines how to minimize the risk of family disputes involving trusts.

• Amending Trust Deeds and Avoiding Tax Nasties - Given the long life of trusts, there is often a need to change the terms of the trust as it matures. This session considers the intricacies of trust amendments, and in particular examines the possibility of amending a trust deed to extend the vesting date.

• Next Exit: Trusts? - As the Division 7A reforms move closer to fruition and the ATO take a more aggressive approach on trusts, more taxpayers are considering the value of exiting trust structures. This session examines the tax issues that advisers need to consider when advising on trust restructures.

The Life Death of Testamentary Trusts

• Structuring Testamentary Trusts to Bullet Proof the Estate Plan - The creation of testamentary trusts is challenging. Finding the balance between flexibility and protection require careful consideration and drafting. This presentation will cover the issues that arise when drafting testamentary trusts and practical strategies to avoid them.

• Use of Different Types of Trusts and Estate Planning - This session looks at the ins and outs of trusts in estate planning to ensure you have the best strategy in place for your client. We will look at what trusts are available to your clients and why you would use them.

• Tax Efficient Use of Super Proceeds Trusts and Testamentary Trusts for Super - With the creation of the $1.6million transfer balance cap, some clients may need to direct all or part of their death benefits (which would otherwise have been paid as a pension) to their estate and perhaps to a super proceeds trust. Now is the time to understand when a SPT is appropriate and how the concessional tax treatment applies.