Over the next 20 years, there is an estimated $3,200 Billion of wealth set to pass between generations. Covid has brought to all of Australia's attention on ensuring your assets, family and personal being are protected. Protection not growth is paramount and will be some time to come.
All of this results in a significant opportunity for Succession, Asset Protection and Estate Planning advisers (SAPEPA). Yes, there is such a thing and they count to more than 50 specialists in Australia and growing.
On 14 October 2020 from 9 am to 1 pm (AEST) we will be holding an on-line SAPEPA masterclass where participants will be hearing from three highly experiences SAPEPA professionals who will look at, dissect and rebuild family case studies from young upcoming business owners to wealthy retirees seeking to protect their family’s wealth.
LYD Subscription Users & Licensees - FREE!
LYD Basic Users: $49
ChangeGPS Users: $49
Standard Ticket: $149
This is one half-day advanced workshop not to be missed with topics covered:
1. Asset protection using a Family Protection Trust as well as the use of gift – loan back strategies for complete asset protection without CGT and stamp duties plus how to secure and ring-fence a family’s corporate or trust investments;
2. Creating an SMSF that provides for a family with the new six-member rule and how to pass assets between generations, tax-free and ensuring no family provisions claims while using a SMSF death benefits testamentary trust from the SMSF, not the estate. Did you know a SMSF Trustee can build a testamentary trust under the taxation laws benefitting minors with ordinary and not penalty tax rates?
3. Review of the recent changes to testamentary trusts and the top ten questions that need to be covered to build a great testamentary trust and why many currently fall foul of the new laws;
4. How to build, promote and brand your SAPEPA skills and business division;
5. Why surveys show that more than 80% of your current clients want help with wills, enduring powers of attorney and advanced health care directives post Covid19;
6. How to set up a Moat around a client’s family wealth castle to protect against litigation and family provisions claims;
7. When a client dies how to manage their estate successfully and ensure that you are the key adviser to the estate;
8. Strategies to move wealth into a Family Protection Trust or SMSF, both great asset protection structures with no capital gains tax or stamp duties.
Important: We will also be discussing the finer details of the recently established Succession, Asset Protection and Estate Planning Advisers Association and how you can get involved at a chapter or organisational level or simply to add to your professional accreditations.
Why is there a need for SAPEPA advisers? The Five most important reasons .....
1. There are tens of millions of Australian’s without adequate asset protection and estate plans let alone basics like enduring powers of attorney and advanced health care directives. These families need help.
2. Family provisions and family law cases, seeking to attack family wealth are exploding as is the legal fees that drag these cases through the mud for years. In 2018 in the WA Supreme Court, an estate worth only $600,000 was ravaged by legal fees of more than $500,000 thanks to a five year legal challenge. And this is not out of the ordinary – it is now guaranteed with No Win No Fee lawyers chasing estates. Strong asset protection from family law and family provisions claims is within easy reach yet no one uses or employs it.
3. Small and medium family businesses have no legal continuity plans if the founder or the company becomes incapacitated or dies leaving the business exposed! And what happens to discretionary trust and SMSF trustee companies when the shareholder dies – litigation! This is such an important issue and can be fixed with successor directors but no one has a plan in place - do your clients?
4. Litigation, regulators, state authorities, councils and numerous entities and people use the law with great effect to impact a family’s livelihood, wealth, happiness and health. Putting a Moat around a family’s wealth castle makes the job of “actors of harm” that much more difficult.
5. From an advisory viewpoint we are so bogged down with compliance and end up not doing great advisory work but spend hours on end in the compliance mill. With SAPEPA you are right in the midst of challenging, multi-generational work that is a great revenue earner and low on compliance. After all, to build a Family Protection Trust that protects family wealth to bloodline is no different to establishing a discretionary trust, but means so much more. It’s time to get in on the ground floor and make the most of this opportunity which is non-Covid19 effected.