"Passing the Baton' was this year's theme. It is about succession planning, and preserving and passing the family wealth to the next generation. This is a topic of growing importance as the value built up in entities by, in particular, the baby boomers, is to be transferred to the next generation. The traps and pitfalls are many and our team of expert and experienced presenters identifed those obstacles and suggested the ways and means around them.
The range of succession strategies considered was impressive - including strategies for maintaining control over assets in trusts post-Kennon v Spry and Richstar Enterprises, the role of superannuation and life insurance, extending the life of trusts, the risk of bankruptcy and family breakdown and the impact of the general anti-avoidance provision on succession planning.