Restructuring for Succession - Part 1

The Productivity Commission has estimated that Baby Boomers will pass on $224 billion each year in inheritances by 2050 - a monumental transfer of wealth.

As part of the succession planning process, advisers and testators often identify situations where assets are not sitting in the right structure. In some situations, restructuring for succession may be desirable.

This session, Part 1, covers:

• Succession of assets held by individuals

• Succession of assets held by discretionary trusts

• Passing control of discretionary trusts

• Vesting of discretionary trusts

• Dealing with existing loans and unpaid present entitlements (UPEs)

Part 2 covers:

• Trust splitting and cloning

• Trust disputes

• Lessons from Owies v JJE Nominees Pty Ltd [2022] case

Part 3 covers:

• Tax considerations for restructures during life

  • CGT and duty issues

  • Using small business CGT concessions or the small business restructure rollover

• Case studies on:

  • Discretionary trust to company restructure

  • Restructuring and passing business to next generation

  • Splitting an intergenerational business

Date recorded: 10 October 2023