Estate Planning and Family Dynamics – a recorded lunchtime online conference

Duration: Approximately 2.5 Hours

Hear from the experts at this online conference. You can watch it on your computer or on your portable electronic device from anywhere.

The conference will be based on our highly successful video webinar technology: there'll be a chairperson and presentations.

One registration can be shared by colleagues within the same firm utilising the same login.

THE PROGRAM

Session 1: A Matter of Trust: Impact of Trusts on the Estate Plan

Family trusts and testamentary trusts are a popular vehicle for asset protection and prudent financial management amongst family members. However, as a result of recent legislative changes, along with new case law, the landscape is shifting and it may be time for clients’ estate plans to receive a grease and oil change. This session examines these key changes and how they may impact the estate plan, including:

• Unpacking the recent excepted trust income reforms
  • How do these reforms limit tax concessions for minors receiving trust income?
  • Are super assets considered to be outside of the deceased’s estate?
• When will a trust deed need variation? Identifying reasons for change
• Reviewing key clauses – vesting date, death or incapacity of appointors and guardians, beneficiaries and variation
• What happens on the vesting date?
• Is the door now open to South Australian trusts? Examining impact of Clark v Ebden [2020] SASC
• Case update, including Callus v KB Investments [2020] VSC 135

Session 2: Estate Planning for Clients with Assets and Beneficiaries in Multiple Jurisdictions

The client has assets or potential beneficiaries in multiple jurisdictions and you are asked to advise on an estate plan. Where do you start? This session looks at the practical response to this question. It includes:

• Impact of dual nationality on the estate plan
• Establishing domicile
• Jurisdictional issues: which route to follow to achieve the greatest benefit
• Use of foreign wills and international wills
• Managing multiple wills and avoiding conflicts between them
• Foreign tax considerations in estate planning
• Impact of foreign resident beneficiaries in testamentary trusts
• Case studies

Session 3: Shareholder Agreements in Wealthy Families – An Estate Planning Perspective

The estate plan is in place and one more piece of the puzzle is required - a shareholder agreement. This session looks at these with a practical focus. It includes:

• Shareholder agreements and estate planning – an overview
• Nature of shareholder agreements and difference from buy-sell agreements
• Adapting agreement for other business vehicles
• Key inclusions in shareholder agreements:

• Board appointment
• Employing family members
• Shareholder powers
• Dispute resolution
• Allotment and transfer of shares
• termination

• Structuring the shareholders agreement to meet estate planning goals
• Shareholder agreement’s role in tax effectiveness
• Case study – when the estate plan is at odds with the shareholders agreement