'Estate Planning' Seminar Notes
PLUS, Video Presentation by Roger Timms - October 2011

Video presentation accompanying the Notes for Estate Planning Seminar 2011

Video format: DVD 

View a short preview of the DVD presentation here.  

In this 30-minute video presentation, Roger Timms, Head of Tax & Super for Taxpayers Australia, summarises the key issues which are typically relevant when establishing an estate plan. This will assist in honing your skills by referring to the detailed notes. There are also a set of Power Point slides tailored to the presentation, and for easy access we have split the presentation into five separate parts:

• CGT events upon death
  • When the CGT event is disregarded
  • When a CGT event K3 will occur
    

• Testamentary Trusts
  • Advantages and disadvantages
  • How the CGT rules apply

• The Family Home - retain the CGT exemption
  • Retaining the benefit of the main residence exemption

• Superannuation Death Benefits
  • Will the death benefits be taxable?
  • The implications of draft tax ruling TR 2011/D3

• Business Interests, including CGT concessions
  • CGT treatment of life insurance proceeds and
  • The use of buy/sell agreements to facilitate the transfer of assets
  • Whether beneficiaries of the deceased estate can access the small business CGT concessions.

 
Notes from the 'Estate Planning' seminar include the PowerPoint presentation and cover the following content in detail: 

The effectiveness of arrangements entered into to transfer assets to the next generation will inevitably have a significant impact upon:

• the after-tax value of the assets transferred; and
• the ease with which transition to the new asset owner occurs

Matters which commonly require active consideration include:

• Whether assets should be transferred during a person's lifetime or as part of the deceased estate (Division 128 ITAA97 will be considered in depth)
• CGT treatment of life and trauma insurance proceeds and superannuation death benefits
• The use of Buy/Sell agreements to facilitate the transfer of assets which constitute fixed business interests (shares, units etc)
• Taxation and asset protection benefits of testamentary trusts and, where such trusts form part of the strategy adopted, consideration of issues such as the use of multiple trusts, the terms of trust and the type of asset most suited to be held on trust
• Circumstances in which beneficiaries of the deceased estate may be able to access the small business CGT concessions
• The situation where significant family wealth resides in a discretionary family trust - given that beneficiaries do not typically have any interest in trust property is any action required in the context of succession planning?

To take an in-depth look at the content, click here.