Advanced Business Succession, Trusts and Planning

Gain a practical toolkit of mechanisms to protect assets through Trusts. Explore succession planning in family trusts, analyse the variation in trust deeds and inconsistences that arise. Evaluate trusts, CGT and growing numbers of foreign beneficiaries, navigate S100A and ATO regulations and assess superannuation considerations, intergenerational planning tools for family businesses and tricky considerations in company structures.

Thursday, 17 August 2023
12.15pm to 1.15pm The Importance of Superannuation in Business Succession
  • Approaches to business property owned by SMSFs
  • Acquire strategies to maximise superannuation
  • Explore retirement options

Presented by Christie Butler, Senior Manager, Cooper Partners

Session 1: Trusts and Succession Planning Unpacked

Chair: Chris Apostolakos, Partner, Diamond Conway Lawyers

Session 2: Navigating Taxing Trusts and Variation of Trust Deeds

Chair: Andrew Woods, Consultant Lawyer, David Davis and Associates; Accredited Specialist in Wills and Estates; Recommended Wills, Estates and Succession Planning Lawyer, Doyle’s Guide 2020

10.00am to 11.00am Intergenerational Planning for Family Businesses
  • Communication and consultation to achieve a ‘meeting of the minds’
  • Documenting the plan through family agreements, constitutions and charters
  • Ensuring business structures such as trusts and companies are ‘transition ready’
  • Developing good governance to maintain harmony amongst future generations

Presented by Sophie Cohen, Director, Aintree Group Legal; Nationally Accredited Mediator

11.15am to 12.15pm Dealing with Companies and Businesses in Succession Planning: Master the Art
  • Is business succession a relevant component of estate and succession planning?
  • Navigate approaches to death or incapacity of directors
  • How to deal with shareholders & directorships when the director passes away
  • Analyse binding financial agreements in estate and business succession planning and enforceability of BFAs

Presented by Amanda Liston TEP, Director, Amanda Liston Legal; Recommended Wills & Estates Litigation Lawyer, Doyle’s Guide Western Australia 2021 and Recommended Wills, Estates & Succession Planning Lawyer, Doyle’s Guide Western Australia 2021; Member, Elder Law and Succession Committee, Law Society of WA

9.00am to 10.00am Succession Planning in Family Trusts
  • The best structure for the Family Trust following the decision in Owies v JJE Nominees Pty Ltd [2022] VSCA 142
  • Distributions, “reimbursement agreements” and anti-avoidance provisions
  • Duties of the Trustee including those towards the beneficiaries
  • Gift and loan back arrangements
  • Future proofing (consider capital and income)

Presented by Dr Allison Stanfield, Solicitor Director, Lantern Legal

3.00pm to 4.00pm Section 100A and Trust Reimbursement Agreements

Whilst advisors are by now aware of the “reimbursement agreement” spectre looming over what were once conventional trust practices, uncertainty remains as to the scope of s 100A, despite comprehensive ATO guidance.  Recent Federal Court decisions have further clouded the issues. 

  • Explore key terms and areas of focus
  • Analyse the Commissioner’s guidance material in the context of subsequent case law
  • Navigate the application of the “ordinary family or commercial dealing” exception
  • Gain practical risk management suggestions

Presented by Antony Barrier, Director, Munro Doig Lawyers

2.00pm to 3.00pm Trusts, CGT and Foreign Beneficiaries

The increased global mobility of individuals and online transactions, together with the deregulation of financial markets and exchange controls since the 1980s, mean that cross-border estate tax issues are, in many instances, “the new black”.

During this presentation you will explore:

  • Division 855: gain an understanding of the CGT rules for non-residents in relation to taxable Australian property and taxable Australian real property
  • CGT Event K3: assess assets passing to tax advantaged beneficiaries
  • Evaluate main residence exemption, foreign residency, and deceased estate interactions

Presented by Neil Brydges, Principal Lawyer, Sladen Legal; Accredited Specialist in Tax Law (LIV); Best Lawyers 2023, Tax Law; Leading Tax Lawyer, Doyle’s Guide Victoria 2022, and James Gao, Lawyer, Sladen Legal

4.15pm to 5.15pm Variation of Trust Deeds
  • Does the Trust Deed contain a power to amend the Deed?
    • Tax Determination TD 2012/21 and the “resettlement” debate;
    • sample amendment clauses and principles for interpreting powers of variation
  • Can the “power to amend” in a Trust Deed itself be amended (and what is required)?
  • If a Trust Deed requires the Appointor or Settlor to consent to an amendment, can they consent to remove their own power?
  • If a Trust Deed doesn’t contain a suitable amending power, will it be appropriate or necessary to seek the amendment of the Deed by the Supreme Court (or possibly judicial advice)?
  • “Trust splitting”: is it still available following Tax Determination TD 2019/14?
  • If a Trust Deed doesn’t contain a power to amend (or only a limited power), can control of the Trust be managed through the Trustee Company’s Constitution?

Presented by Michael Butler, Tax & Revenue Partner, Finlaysons

11.00am to 11.15am Morning Break
4.00pm to 4.15pm Afternoon Break
Description

Attend and earn 7 CPD units in Substantive Law
This program is applicable to practitioners from all States & Territories

Presenters


Dr Allison Stanfield, Solicitor Director, Lantern Legal
Dr Allison Stanfield has 30 years' experience as a lawyer and in business. In her private legal practice, with an international clientele, Allison’s expertise includes advising on commercial contracts, privacy and compliance. Having obtained a PhD in electronic evidence, Allison also maintains a keen academic interest in all things digital. One of Allison’s key clients is EDT, a global software company, which develops evidence disclosure software for investigators, regulators and justice agencies. As EDT’s Chief Legal & Compliance Officer, Allison is responsible for negotiating high value contracts, privacy and cyber security compliance. Other private clients include start-up software and app vendors, for whom Allison drafts terms & conditions, privacy policies and otherwise advises on compliance and commercial contracts. In the event of dispute, Allison works with clients to employ alternative dispute resolution procedures, going to court only if necessary. Allison presents and speaks regularly on commercial contracts, privacy and digital evidence.


Sophie Cohen, Director, Aintree Group Legal
Sophie is a director of law firm Aintree Group Legal (recently merged with Loch Legal), delivering estate planning, commercial and property legal solutions ‘with heart’. Sophie has over 25 years of experience as a lawyer, business advisor and leader, giving her a broad commercial and legal perspective. She is passionate about delivering high quality, practical and effective estate planning, business succession and asset protection strategies, to empower clients to realise their dreams and goals, solve the problems that keep them awake at night, and bring them peace of mind. She believes that connecting with clients on a personal level and collaborating with clients’ professional advisers including accountants, wealth managers and other lawyers, is key to providing integrated and holistic outcomes for clients. At home, you will find Sophie spending time with her partner and 4 teenage children and keeping active through running, swimming, and bike riding.


Christie Butler, Senior Manager, Cooper Partners
Christie Butler, is a senior manager with Cooper Partners Financial Services. Christie enjoys building relationships with clients and assisting them with their financial needs and in particular, their superannuation. Initially working in both tax and super, Christie has specialised in SMSFs over the last 20 years. She has a keen interest in restructuring SMSF's, estate planning.


Antony Barrier, Director, Munro Doig Lawyers
Antony is a sought-after legal professional with extensive experience in tax and superannuation law. His experience includes time in the Tax Group of a national firm and a boutique firm in London that specialised in international tax. Antony’s expertise allows him to advise provide expert advice on most areas of Australian Federal and State taxation. He is well-regarded for his knowledge of international tax issues and his ability to provide highly skilled services in estate planning, business structures, and general commercial/corporate transactions. Antony has a Master’s degree in Law (with Distinction) from the University of Western Australia and is a Fellow of the Tax Institute.


Michael Butler, Tax & Revenue Partner, Finlaysons
Michael has spent over 25 years working solely in taxation law - he is a , true specialist in his field. His deep experience in tax law means he can , provide advice that considers each client's unique situation and suggest , tax-effective options and solutions to help clients achieve their commercial , goals. Michael's expertise at state, federal and international levels includes , income tax, capital gains tax, GST, WET, fuel tax credits and carbon tax, , as well as stamp duty, payroll tax and land tax. Also experienced in , international taxation, Michael has assisted a number of Australian and , foreign companies with the implementation of international transfer pricing , methodologies and advised on the tax and GST implications of operating in , Australia. His special interests include property and mining taxation, estate , and business succession planning, international tax matters and tax , dispute resolution. He has advised a range of clients on the tax and GST , implications of property subdivisions and developments, and mining , operations and joint ventures, and also helped private clients to deal with , the difficult tax and family issues that arise during asset division. Michael , has established a truly international tax and revenue practice from his base , in Adelaide, servicing clients throughout Australia and all over the world. , He provides clear, concise and commercially-focused advice and a high , value and responsive service.


Amanda Liston TEP, Director, Amanda Liston Legal
Amanda Liston is the Director of Amanda Liston Legal. Amanda was admitted to legal practice in 1998. She specialises in elder law, estate planning, wills and estates. Amanda obtained a Master of Laws (Applied Law), majoring in Wills and Estates from the College of Law in 2014. Amanda is an Adjunct Lecturer at the College of Law. She serves on the committee of the Law Society’s Elder Law and Succession Committee and the pro bono panel of the State Administrative Tribunal Guardianship and Administration Division.


Neil Brydges, Principal Lawyer, Sladen Legal
Neil is a Principal in Sladen Legal’s business law team, with a particular focus on taxation advice and disputes. Taxation law is a complex area. Neil’s aim is to provide technical expertise to clients, commercially applied and in a friendly and approachable manner. Neil’s practice involves advice, audits, disputes, and transactions. The client mix includes both family groups, business enterprises, and professional advisors including tax agents, accountants and financial advisors. Neil is a Chartered Tax Advisor with The Tax Institute and accredited as a specialist in taxation law with the Law Institute of Victoria. Since 2019 Neil has been named one of Australia’s “Best Lawyers” in the practice of tax law by “Best Lawyers”. Neil has also been recognised in Doyles Guide as a recommended tax lawyer since 2021.


James Gao, Lawyer, Sladen Legal
James is a Lawyer in the Business Law team at Sladen Legal, where he specialises in federal tax matters. Before joining Sladen Legal, James completed a Juris Doctorate at the University of Melbourne and a Bachelor of Arts majoring in Economics and History at New York University. Beyond federal tax advice and disputes, James’ areas of practice also include trusts, charities and Foreign Investment Review Board matters. James is also fluent in Mandarin Chinese and his work has been published in the Tax Institute’s Taxation in Australia Journal.


Andrew Woods, Consultant Lawyer, David Davis and Associates
Andrew Woods is a solicitor with over 30 years’ experience in providing specialised services related to VCAT Guardianship and Administration, Estate Planning, Estate Litigation and Succession issues. After qualifying, Andrew spent two years in a country legal practice before returning to Melbourne to work with Equity Trustees for over 16 years. Andrew initially became an Accredited Specialist in Wills and Estates with the Law Institute of Victoria in 1998. Between 2001 and 2011, he lived and worked overseas, managing the Wills and Estates section of the private client department of a large law firm in Bermuda. During his time in Bermuda, Andrew dealt with a broad range of clients, ranging from international ultra-high net worth individuals to local clients with more modest needs. Following his return to Victoria in 2012, Andrew regained his Specialist Accreditation in Wills and Estates. Prior to joining David Davis as a Consultant, Andrew practiced in mid-tier law firms and a trustee company in central Melbourne.

WEB238N06Z

Advanced Business Succession, Trusts and Planning

CHOOSE YOUR SESSION AND
DELIVERY MODE BELOW

All Sessions
Thursday, 17 August 2023
9.00am to 5.15pm
CPD Points 7
$795.00
On Demand 20241123 20230817

On Demand

Register
Online 20241123 20230817

Online

Register
Morning Session
Thursday, 17 August 2023
9.00am to 1.15pm
CPD Points 4
$505.00
On Demand 20241123 20230817

On Demand

Register
Online 20241123 20230817

Online

Register
Afternoon Session
Thursday, 17 August 2023
2.00pm to 5.15pm
CPD Points 3
$420.00
On Demand 20241123 20230817

On Demand

Register
Online 20241123 20230817

Online

Register