Estate Planning

Papers presented at the 11 November 2011 ESTATE PLANNING - EFFECTIVE STRATEGIES TO PROTECT YOUR ASSETS one-day seminar held at Sydney are available as indicated by the links in the program below.

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The importance of estate planning  - Andrew Frankland (Bartier Perry)

The seminar commences with an outline of the importance of planning, and the pitfalls of not having an estate plan. There are three parts to planning: plan for your estate; plan for your super and plan for other assets and interests outside estate and super. Andrew will discuss powers of attorney, guardianship, family trusts, testamentary trusts and the role they play in asset protection.

Which assets does a will control, which assets are not controlled and which legislation has an impact on wills? These and other issues including the transfer of assets will be discussed.


Wills – The key to successful asset protection - Peter Bobbin (Argyle Lawyers Pty Ltd)

Part 1 – Legal requirements for wills

What is the required content for wills? How long do wills remain valid?  When and how often should you renew wills? Who should be executors and what are their responsibilities? Where should the will be kept?

What is probate? How is it granted? How long can an estate remain in existence? Peter will outline the ins and outs of wills to ensure you’ve covered all bases.

Part 2 – Practical issues

Peter will show you how to write and structure a will and outline the key clauses. He will outline the pros and cons of using a kit vs a solicitor vs a public trustee.

In closing Peter will outline some case studies to help you avoid the pitfalls.


Assets not covered by your will - Chris Balalovski (Perpetual)

Part 1 – Superannuation

In some cases, superannuation will not form part of a deceased estate and will not be able to be dealt with by a will. Amongst other things, Chris will examine the meaning of 'dependants' for these purposes, as well as the practical outcomes of this in the estate planning context.

Chris will discuss how superannuation can be considered as part of a range of estate planning tools, which can enable your intended beneficiaries to tax-effectively inherit your asset base. For example, Chris will highlight what a testamentary trust is, what a binding death nomination is, and how these can be used to enable your assets to be dealt with according to your wishes. Chris will outline a few case studies to highlight the differences.

Part 2 – Other assets

Jointly held assets and interests in entities (such as trusts and companies) require specialist estate planning attention. Chris will outline and discuss the issues to be considered, in order that control of these vehicles (as well as the assets held within them) can be dealt with appropriately.


Tax effective measures in estate planning - Ken Raiss (Chan & Naylor)

This session will explain the taxation implications of estates generally. 

What are the various tax consequences? What are the capital gains tax issues? What is the CGT treatment of life and trauma insurance proceeds and superannuation death benefits?

When does property need to be transferred, such as jewellery, artwork, cash, shares, the principal residence, and other property?

What is the cost base of property for capital gains tax purposes?

Ken will also outline taxation and asset protection benefits of testamentary trusts and, where such trusts form part of the strategy adopted, consideration of issues such as the use of multiple trusts, the terms of trust and the type of asset most suited to be held on trust.

Ken will use case studies to outline the range of strategies available.