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Intergenerational wealth transfer presentation

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Published on 19 May 22

Balancing the family objectives, tax planning and wealth protection is essential to transitioning wealth from one generation to the next. Wealth protection from relationship breakdowns, deceased estate claims and business risks are concerns that drive modern-day succession planning. Client structuring often involves the use of trusts, private companies and self-managed superannuation funds.

This paper illustrates by practical case examples the use of private companies, discretionary trusts and testamentary trusts to pass inheritance to the next generation, including:

  • Understanding the clients’ current structures
  • Amending trust deeds and company constitutions
  • Using testamentary trusts, including income splitting with beneficiaries, CGT death rollovers and duty concessions

Author profile

Chris Tsovolos FTI
Chris Tsovolos, FTI is focused on delivering private client services to families, individuals and privately held businesses across a range of personal and commercial tax issues. His clients rely on his strategic approach to personal and business succession planning, wealth protection and asset structuring. He also has significant experience in assisting clients with asset protective structuring and taxation planning and structuring. In respect of taxtion law, Chris also assists clients in dealing with ATO audits and reviews, including lodging objections and appeals against ATO assessments and NSW State Revenue Office determinations. Chris has lectured for Western Sydney University and regularly presents for the Chartered Accountants Australia and New Zealand, Tax Institute of Australia, Australian Society of Certified Practising Accountants and other associations in respect of topics that are part of the core areas of his practice. - Current at 02 November 2023
Click here to expand/collapse more articles by Chris TSOVOLOS.

 

This was presented at NSW Tax Forum .

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