Essential Estate Planning

Tuesday 12 October 2010, The Stamford Plaza, Melbourne Wednesday 20 October 2010, The Crowne Plaza Darling Harbour, Sydney Thursday 21 October 2010, The Emporium Hotel, Brisbane

Take this opportunity to consider:

Impact of developments in asset protection Evolving areas of Trust law Interpreting detail around superannuation death benefits

Speaker:
Allan Swan
Principal, Moores Legal
Allan Swan is a Principal of Moores Legal and heads its estate planning team. The team provides legal advice and documentation to financial advisors, accountants and lawyers (and to their clients) in the areas of asset protection, trusts, superannuation, tax and estate planning. Allan also conducts a range of presentations across the financial, accounting and legal professions. Allan is also well known for his extensive written articles and publications.

PLUS:
Learn from a detailed, practical case study Take away a template (W4A) from the 9th edition of Moores Legal Wills Precedent document templates

Early Bird Discount expires 3 September 2010

Register online today: www.lexisnexis.com.au/pd

Product of:

Claim up to 6 CPD/CLE points from this program

Essential Estate Planning

8.30 8.45 Seminar registration Opening and welcome Superannuation death benefits
Lapsing binding death benefit nominations externally managed funds Confirmation by attorneys and administrators Non-lapsing binding death benefit nominations SMSFs ATO view of non-lapsing nominations to SMSF trustees Conditional and contingent nominations Need for dependant to be at time of payment Minimising tax on superannuation death benefits

MORNING SEMINAR
9.00

Estate Planning Impact of Recent Developments

(Includes morning tea)
There have been a steady stream of legislative, judicial and taxation developments in recent years that have impacted on estate planning generally and the drafting of estate planning documents such as Wills, binding death benefit nominations and financial enduring powers of attorney. This seminar focuses on the practical implications of those developments.

Adjustment (equalisation) clauses

Time of valuation of assets estate v superannuation Adjusting for latent CGT

Powers and obligations of executors

Deceased estates SMSFs Family trusts Potential for abuse of powers by executors and attorneys

Changes that might be needed to Wills

Prepared 5 years ago Prepared 10 years ago

Fixed and flexible life interests

CGT and land tax main residence exemptions Practical consequences of using an accounting definition of income Power to reimburse life tenant for CGT liability Life interests v superannuation death benefits

Changes that might be needed to other estate planning documentation Asset protection
Bankruptcy law clawback and Federal Court jurisdiction Superannuation and life insurance paid to insolvent deceased estate Expanded jurisdiction and powers of the Family Court Post death challenges to personal owned assets Notional estate challenges in NSW and ACT Post death completion of family law litigation Pre death transfers Use of joint tenancies

Special disability trusts

Comparison with death benefit pensions CGT main residence exemption Severe disability v significant disability for superannuation purposes Care and accommodation expenses $10,000 other expenditure rule Other options for preserving a beneficiarys means tested pension eligibility

Trust law developments

Implications of accounting (trust law) and income tax definitions of income CGT and testamentary trusts CGT events trust cloning and splitting Forward (future year) distributions of income and capital Tax file number notifications by non-charitable beneficiaries Allocations to company beneficiaries of trusts ATO view Changes to appointors ATO view

Financial enduring powers of attorney

Power to make binding death benefit nomination Control of family trust Pre-death cashing in of superannuation

12.00

Light lunch and refreshments for full day delegates and speaker

Register online today: www.lexisnexis.com.au/pd

Claim CPD/CLE points with all LexisNexis Professional Development events

Tuesday 12 October 2010, The Stamford Plaza, Melbourne Wednesday 20 October 2010, The Crowne Plaza Darling Harbour, Sydney Thursday 21 October 2010, The Emporium Hotel, Brisbane
12.30 Seminar registration Adjustment/equalisation of benefit estate and non-estate sources Executor discretion
Menu of options for type and/or use of trust Eligibility for small business CGT concessions Discretionary beneficiaries and means tested pensions Eligibility for main residence exemption

AFTERNOON SEMINAR
1.00

Drafting Testamentary Trusts

(includes afternoon tea)
This seminar focuses on the drafting of the most frequently established testamentary trusts, ie for people whose aim is not to rule from the grave, at least once their intended beneficiaries are sufficiently mature, but instead want to enhance the value of an inheritance. (The drafting of other types of executor controlled testamentary trusts are also discussed.) Drafting issues for the various clauses pertinent to testamentary trusts is canvassed as each of the topics below are considered.

Geared assets Standard beneficiary controlled testamentary trust establishment options

Separate beneficiary testamentary trusts for each primary beneficiary Superannuation death benefits testamentary trusts Prospective beneficiary trusts Parallel testamentary trusts Capital and income reserved trusts Split fixed testamentary trusts

Types of testamentary trusts

Beneficiary controlled Executor controlled defined period, eg until age 30 Executor controlled lifetime or longer

Lifetime executor controlled testamentary trusts

Protecting vulnerable beneficiaries Special disability v all needs protective trusts Fixed and flexible life interests/capital protected trusts Rights of occupation Education and other special purpose trusts

Choice of income definition for trusts Executors guidelines 4.00 Seminar close

Release of funds to control of primary beneficiary

Single release Staggered release Ongoing crisis provisions - Bankruptcy - Loss of capacity Relationship breakdown

Clause by clause summary of provisions Minimising taxation liabilities, eg the excepted income concessions Anticipating family trust elections CGT and land tax exemptions and concessions
CGT ownership interest CGT right of occupation Land tax Beneficial or equitable interest Asset protection implications

Who should attend?

Solicitors practicing in Wills and Estates Barristers Accredited specialists Financial planners with speciality in succession planning Lawyers wishing to grow their knowledge in this area of practice

Linking of Wills (where appropriate) to sources of funding

Superannuation Insurance Family trust loan accounts and unpaid allocations

To register now visit: www.lexisnexis.com.au/pd or ph: 1800 772 772 or fax: 02 9422 2338

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Essential Estate Planning

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Please send me more information on: Succession Law and Practice NSW (formerly Wills Probate and Administration Service NSW) Wills Probate and Administration Service Victoria Australian Retirement and Estate Planning Bulletin Australian Superannuation Bulletin Hutleys Australian Wills Precedents - 7th Edition book. Author: Rowland, C, Published: April 2009 ISBN: 9780409323719 - softcopy Estate Planning: A Practical Guide for Estate and Financial Service Professionals (Michael Perkins; Robert Monahan) Financial Planning in Australia (Sharon Taylor; Roger Juchan; Beverly Houterman)
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Event date & venue

Tuesday 12 October 2010, The Stamford Plaza, Melbourne Wednesday 20 October 2010, The Crowne Plaza Darling Harbour, Sydney Thursday 21 October 2010, The Emporium Hotel, Brisbane