30 November 2022 - How to Build Trusts, SMSFs and Estate Plans for Blended Families using ATO Rulings

Creative Estate Planning Solutions for Different Family Lineage

Whether it is the immediate generation, the next generation or the generation after that, estate planning will dissipate family wealth on purpose. Some of it meant and much of it malicious. According to author Monica Bryant Norved –

“In Australia, about 50% of Wills are contested usually by family members unhappy with the distribution of their parents’ estates. The boom in family provision claims across Australia recently has been of significant benefit to legal professionals and many firms are offering ‘no win/no fee’ options to draw in additional claimants. University of Queensland research showing that three-quarters of family provision claimants are successful in their claims is further encouraging potential claimants to also consider proceeding with a claim.”

With costs of mediation and worst-case litigation above 30% of the estate and more, a well thought out estate plan is imperative for even the best of families. For blended families with different bloodlines a contested estate is guaranteed. However, there are three different solutions to this process – all creative and loved by clients. Join Grant Abbott from AM Lawyers and also Chair of SAPEPAA on the issues, where we are going, the problems with multi-bloodline and more importantly the solutions to deliver to your clients – whether as an accountant, planner or specialist SAPEPAA adviser.

This session has one hour CPD for FASEA, TPB and SAPEPAA.

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