Many of your clients have their wealth invested in superannuation funds and family trusts. These clients need a workable succession strategy in the event of their death. Where clients have tangled personal lives, added complexities arise.
This event identified some of the key planning problems facing your clients and refined your skills to enable you to discuss and help implement practical solutions. It was ideal for advisers whose clients have significant superannuation savings, operate a family trust or are involved in a second marriage or have children from another relationship.
The following topics were covered:
- how are death benefits taxed?
- pension or lump sum?
- commutations and reversionary pensions.
- binding vs. non binding nominations.
- pre-death strategies
- Who really controls family trusts?
- what are the options for effective transfer of control?
- do letters of wishes work?
- what are promises of trust control, income or assets really worth?
- does the advisor have a role?
- considerations where the trust owns a business.
- life interests, life tenancies and other strategies
- are mutual wills an option?
- who should be trustee and what powers should they have?
- what problems are arising in current court actions?