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Death...and Taxes

Published on 20 Jul 2017 | Took place at Surfers Paradise Marriott Resort & Spa, Surfers Paradise, QLD

It is well documented that Australia is facing a monumental intergenerational wealth transfer over the next 20 years. As a trusted adviser to their ageing clients, tax and accounting advisers are well positioned to help clients and their families deal with the administration burden caused by incapacity and death. Therefore, this event was for tax advisers who want to be prepared for one of the realities of having individual clients. There were plenty of events that are focused on broader estate planning issues.

This event was focused on the the practical things that advisers have to deal with when their clients are facing that mortal coil ... and beyond.

Get a 20% discount when you buy all the items from this event.

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Individual sessions

Testamentary trusts

Author(s):  Ian BURGESS

This paper covers:

  • what is a testamentary trust?
  • why use a testamentary trust
  • tax issues in more detail.
Materials from this session:

Revisiting the income tax and capital gains tax consequences

Author(s):  Melanie Costin

This paper covers:

  • capital gains tax consequences
  • income tax consequences.
Materials from this session:

A deeper analysis of superannuation death benefits

Author(s):  Scott HAY-BARTLEM

This paper covers:

  • removing the trustee’s discretion
  • binding death benefit nominations
  • challenging the validity of binding death benefit nominations
  • dealing with superannuation death benefits in a will.
Materials from this session:

Incapacity

Author(s):  Brian Herd

This paper covers:

  • incapacity - the professional concerns
  • what is meant by incapacity?
  • what types of powers of attorney can clients make?
  • the powers and obligations of financial attorneys (including tax)
  • what an adviser needs to do if they have doubts or concerns about their client's capacity.
Materials from this session:

Dealing with the impact on the business

Author(s):  Paul HOCKRIDGE

This paper covers:

  • what is a business buy-sell agreement?
  • what do the various buy-sell models look like?
  • what if I can’t get the insurance that I want?
  • contractual and drafting considerations
  • CGT on life insurance proceeds.
Materials from this session:

The process of administration: The taxing process from when you are notified that your client has passed away

Author(s):  Linda FARMER

This paper covers:

  • the process of administration
  • the key players
  • tax registrations, timelines and deadlines
  • who pays the tax?
Materials from this session:

You're the executor - The roles and responsibilities

Author(s):  Jarrad Mobbs

This paper covers:

  • what do the terms executor, administrator and personal representative mean
  • the powers, duties and liabilities of an executor
  • the duty to establish and deal with the assets of the estate
  • the duty to pay the debts of the estate
  • claims by the ATO.
Materials from this session:

If you had your time again - Lessons from the grave

Author(s):  Bernie O'SULLIVAN

This paper covers:

  • mistakes in dealing with family trusts
  • mistakes in dealing with superannuation
  • were the pre-death strategies right?
Materials from this session:

Managing family and beneficiary disputes

Author(s):  Scott WHITLA

This paper covers:

  • the family dynamic
  • communication
  • accessing documents of a trust
  • managing conflicts
  • what are the beneficiary’s rights?
Materials from this session: