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Estate Planning Seminar

Our recent Estate planning seminar and various conferences attended by DP advisors reinforced to us the need for all clients to review their wills, power of attorneys and advanced health directives. In particular clients with Do It Yourself (DIY) Superannuation Funds also need to review their DIY Deeds in collaboration with us and their Accountant to review the following issues:

1. Corporate Trustee

• any new deeds from now on would be best advised to have a corporate trustee in spite of the additional costs
• depending on family circumstances existing deeds should be changed to corporate trustee
• there are no CGT effects of changing the Trustee as care is taken not to trigger a resettlement

2. The Restructure of Non-super Assets approaching retirement

• superannuation is the best structure for “asset protection” purposes     
• the tax benefits are compelling for TPD clients, over 55 year olds and especially over 60 year olds

3. Resetting Cost Bases for pension Funds

• clients have a duty of care to their beneficiaries to refresh cost bases regularly so that there is not a CGT impact on the death of the final member

4. Maximising the Non-taxable Component

• best done as part of the restructure and resetting cost bases
• difficult to achieve with over 65 year olds as they have to pass the work test

5. Gearing into Direct Property assets

• special opportunity for young self-employed accumulators

6. DIY Deed and Will Syncronicity

• need to ensure the DIY deed has the capacity to pay benefit into a Testamentary trust set up via the will 

To discuss these concepts further, please contact one of our advisers on (07) 4639 2588.