By Denice Fraser, Senior Marketing Executive and Cassandra
Townsend, Lawyer
Last week, Maddocks lawyers and Cleardocs hosted the first
of two breakfast seminars on estate planning at Maddocks' offices in Sydney.
Robert Monahan from Maddocks was keynote speaker,
engaging an audience of lawyers, accountants and financial planners on
"clear and tax effective wills”.
Through the presentation, Robert discussed some of the
features of the newest addition to our estate planning product suite – our
complex will, ClearWill with Trusts for Law Firms. He explained how a will
maker can minimise tax consequences and maximise asset protection for
beneficiaries through a testamentary trust structure in a more sophisticated
will such as ClearWill with Trusts for Law Firms.
Demonstrating a strong level of interest from attendees,
several questions were posed at the presentation’s conclusion. Many were
interested to learn how to deal with superannuation death benefits via a will
or testamentary trust.
ClearWill with Trusts for Law Firms provides a will maker
with the option to give particular powers to their executor, including the
power to quarantine superannuation death benefits (or create a superannuation
proceeds trust).
The product is available to legal practitioners only –
highlighting the necessity of having a lawyer involved in the making of a more
sophisticated will.
You can view our FALQs on quarantining superannuation death
benefits on our website:
Maddocks advises that the question whether a SMSF member
wishes to create a binding death benefit nomination to deal with SMSF funds or
work the benefits into a testamentary trust, depends on what they wish to
achieve. Members should seek professional advice about their particular
circumstances.
Our second and final breakfast seminar on ‘clear and tax
effective wills’ will be held in Melbourne on 11 December 2013. Should you wish
to reserve a spot, please contact denice.fraser@thomsonreuters.com
before 9 December.
For those unable to attend, +Cleardocs Thomson Reuters have
recorded the session. It will be posted to our website before the close of the
year.
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