Drafting with Precision in Succession Law Matters – recorded lunchtime conference

essential part of a succession lawyer’s practice. This conference will provide you with the advanced drafting skills you need, from managing negligence risks in will drafting, dodging the hazards of enduring powers of attorney, to drafting effective testamentary trusts. Session 1: Negligence and Complex Will Drafting: High Stakes and High Risks Practitioners have a duty of care to clients and beneficiaries when drafting wills. Understanding the extent of the duty of care and meeting the required standard of care in complex will matters is the subject of this session, including: Solicitors duty of care in will preparation Understanding the relevant standard of care when it comes to complex will construction Duty of care to beneficiaries - understanding the full extent of the duty What makes a will complex? Multiple trusts Complicated bequests or conditional bequests Difficult requests for what happens after you pass away Trust terms for when a child reaches a particular age Dealing with the previous spouse Drafting essentials in complex will clauses Lessons from recent cases Session 2: Drafting Financial Powers of Attorney – Getting the Tricky Clauses Right There are many challenges in drafting a financial power of attorney. The consequences of poor drafting may be significant and fixing things later may not be an option. This session takes you through the best practice requirements in effective drafting of powers of attorney: Deciding on type of power of attorney – general or enduring? Options for appointment and decision making – joint, joint and several or other? Role of attorney or agent with related entities like Family Trusts or SMSF Other conditions – capacity, timeframes Revocation Limiting the powers or extending them – when is that appropriate? Conflicts clauses Case study Session 3: Drafting Effective Testamentary Trusts There are numerous benefits for both the testator and beneficiaries in the creation of a testamentary trust for the holding and distribution of estate assets and income after death. The establishment and ongoing arrangements for a trust need to be set up in the will and requires care in drafting to avoid problems down track. This session details the essential provisions of a testamentary trust arrangement, including: Circumstances for including a testamentary trust in the will Key clauses to include Powers, appointment and removal of a trustee Defining the class of beneficiaries and managing those who pre-decease the testator Specifying assets to be held in the trust and their ongoing management The elements of trusts for a special purpose eg disability or special need Inclusion of “opt out” provisions Administrative and legal requirements for setting up the trust THE FACULTY Paul Paxton-Hall, Director, Paxton-Hall Lawyers, Brisbane (Chairperson) Ines Kallweit, Principal Solicitor, KHQ Lawyers, Melbourne Jennifer Dixon, Practice Leader, Moores Legal, Melbourne Bryan Mitchell, Principal, Mitchells Solicitors, Brisbane CPD Lawyers can claim up to 2.5 CPD units/points – substantive law