Before you tackle your next family trust, make sure you’re creating the most adept and effective structure that utilises the best distribution strategies, tax benefits and provides maximum asset protection. Join two experts in the field as you explore the legal requirements and the critical path for constructing an exquisitely made trust that will operate smoothly and without incident. This a must attend for all wills and estate lawyers.
10.50am to 12.20pm Part Two: Advanced Family Trust Considerations
Family Trusts and Estate Planning
- Trust Control
- Succession of Trust control
- Equalisation clauses
- Bespoke trust provisions
- Sample clauses
Advanced Family Trust Administration
- UPES
- Family Trust Elections
- Case studies
Family Trusts and Family Law
- Property and resources
- Case studies
- Relevant cases
Family Trusts and Centrelink
- Asset test
- Income test
- Alternatives
An Introduction to Trust Taxation
- Present entitlement
- Specific entitlement
- Case studies
Summary
- Review of key Family Trust concepts
- Detailed case study analysis
Presented by Greg Russo, Principal, Greg Russo Law; Accredited Specialist in Wills and Estates; Recommended Wills & Estates Litigation Lawyer and Recommended Wills, Estates & Succession Planning Lawyer, Doyle’s Guide 2022, and Suzanne Jones, Partner and Head of Estate Planning, Coote Family Lawyers; Accredited Specialist in Wills and Estates; Recommended Wills, Estates & Succession Planning Lawyer, Doyle’s Guide 2022
9.00am to 10.30am Part One: The What, Who, How, Why and When of Family Trusts
What a Trust Is
- Legal framework
- Trust creation
- Legislation, common law and equity
- Types of trusts
Who is Involved in a Family Trust
- Settlor
- Trustee
- Beneficiary
How Family Trusts Work
- The anatomy of a trust
- Standard provisions
- Bespoke provisions
- Trustee discretion – exercise and challenges
- Trust administration
- Vesting
Why Use Family Trusts
- Asset protection
- Taxation benefits
When You Have to Change a Family Trust
- Variation powers
- Resettlements
Bringing It All Together
- Analysis of a sample Family Trust Deed
- Trust administration checklist
- Critical cases
- Relevant legislation
Description
Attend and earn 3 CPD units including:
2 units in Substantive Law
1 unit in Professional Skills
This program is applicable to practitioners from all States & Territories
An expertly crafted family trust must accomplish a number of goals. In this workshop you will gain hands on skills and insights on the following issues and more:
10.30am to 10.50am Morning Break
Presenters
Mr. Greg Russo, Principal Solicitor, Greg Russo Law
Greg Russo has almost 30 years’ experience in succession planning, administration and litigation and is one of Victoria’s most experienced and respected succession law solicitors. With a background in pure mathematics, Greg not only understands the implications of planning decisions on future taxation, SMSF, trust and estate administration, he is also able to break down complex concepts and structures logically and explain options to clients in a way that empowers them to take positive action and ownership for their decisions. Using the knowledge and insights that he has acquired over three decades, he crafts unique solutions to complex succession problems. Greg teaches both mathematics and law, regularly presents CPD succession events to solicitors, accountants and other professionals in Victoria, Queensland, and online. Greg is an LIV Wills & Estates Accredited Specialist, a chairperson of the LIV Specialist Accreditation Education Advisory Committee, a board member of the Mount Eliza Community Bank, a member of STEP, and is recognised in Doyle’s Guide, in Victoria, as a Leading Wills and Estates Litigation Lawyer and a Leading Wills, Estates and Succession Planning Lawyer
Ms. Suzanne Jones, Partner and Head of Estate Planning, Coote Family Lawyers
Suzanne is Partner and Head of Estate Planning and has over 30 years’ experience in the area of Wills & Estates. She established her own firm in 2006 bringing a premium level of personal service in a suburban legal practice focusing specifically on Wills & Estates. Coote Family Lawyers is fortunate enough to have now acquired that top quality service and experience. Suzanne has a passion for helping people find effective solutions. She has been a Law Institute Accredited Specialist in Wills & Estates since 2012. Her expertise includes developing estate and succession plans for individuals sometimes involving complex circumstances, testamentary trusts, powers of attorney, preparing and interpreting trust deeds, and agreements and of course, Probate applications. Suzanne also advises on the administration of deceased estates and acts for litigants in Estate disputes in the Supreme and County Courts.
