Estate Plan Presentation 1049035 1

Estate Planning Presentation “ Before and After…” Alex Tees, Tel 02 9281 3230/0409813622 Solicitor, Estate Planning Adviser Email atees@bigpond.com

Important disclaimer ,[object Object]

“ MODERN SUCCESSION & ESTATE PLANNING “ ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

WHAT Lawyers should DO in co-operation with Accountants and Financial Planners ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Estate Planning - HOW a Lawyer should and can OPERATE ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Why is it different ? - the way it is recommended to operate compared to OTHER LAW FIRMS ? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

A Modern Will – Creative use of Trusts after Death…(as well as * Other structures ) ,[object Object],[object Object],[object Object],[object Object],[object Object]

Example – Optional Trusts After Death EXECUTOR (May not be the same Person) TRUSTEE (S) TRUST TRUST TRUST

[object Object],The Efficient Will – *Possible use of Trusts after Death……….. Optional Discretionary Testamentary Trust ! E Trustee ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Trustee - Primary Beneficiary ( Surviving Spouse/ Children) B

Case Study 1 – Wealthy Woman marries a much less Wealthy Gentleman – Who Needs Protection ? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Case Study 1 - ESTATE PLANNING - WISHES & Concerns - Whose ? !! ,[object Object],[object Object],[object Object],[object Object]

Case Study 1 -Possible Strategies ,[object Object],[object Object],[object Object],[object Object]

Case Study 2 – George & Marina ,[object Object],[object Object],[object Object],[object Object]

Case Study 2 – George & Marina ,[object Object],Home Joint tenants Investment Property 1 Joint tenants Managed funds SMSF (Self Managed Super’ Fund) Shares SMSF Direct property SMSF

Case Study 2 – George & Marina ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Case Study 2 – George & Marina ,[object Object],“ Estate Assets” Testamentary Trusts & *other optional Structure (s) Family Home Sever tenancy Investment Property 1 Sever tenancy SMSF (Super Fund) BDBN (Binding Death Benefit Nomination)

Case Study 2 – George & Marina ,[object Object],Concern Strategy Protection of family wealth from spousal and other claims Testamentary Trusts (TTs) & other Structures with crisis provisions (removal of Trustees, Directors, “Controllers” etc) Protection for Jack - Control - Conflicts of interest Protective Trust - ‘Family’ control - Testamentary Protector Understanding of “non-estate assets” and planning required Sever joint tenancy (Family Home) Cascading Binding Death Benefit Nominations (Super’)

STRATEGIES – SMSF- Super’Funds ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Other Possible Strategies – Some “Non Estate Property” – Family Trusts /Super’ ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Case Study 3 – Simpler Case ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Case Study 3 Jack & Jill - Assets ,[object Object],[object Object],[object Object],[object Object]

Jack & Jill (not over the Hill) (3) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

After Jack & Jill Die …. (3) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

General Wills Strategies ,[object Object],Concern Strategy Tax efficiency Trust structure - income splitting properties - 102AG concessions for minors Executors discretions Ability for younger beneficiaries to ‘fritter-away’ wealth Qualifying Age – eg 25 “ Young Mens disease”(beware “young ladies disease” as well !) Estate conflicts – Loans Equalisation provisions

Summary ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Thank You ! – Reminder – Optimal Process ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Estate Plan Presentation 1049035 1

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