The Essential Guide to Estate Planning and Testamentary Trusts (NSW)
The Essential Guide to Estate Planning and Testamentary Trusts (NSW)
Date & time: 19 February 2025, 9.30am to 1.30pm AEDT
Join us for a half-day program and learn the fundamental principles surrounding testamentary trusts. Whether you are a new legal practitioner, exploring a new practice area or want to refresh your knowledge, this course is for you.
Facilitated by Robert Monahan, Accredited Specialist in Wills and Estates, Monahan Estate Planning.
At the end of this course you will:
- Understand the various types of testamentary trusts
- Learn taxation differences between different testamentary trusts
- Attain essential knowledge to draft testamentary trusts
- Understand which type of trust to appropriately apply to specific fact scenarios
Feedback from past attendees:
- “An excellent workshop with a highly knowledgeable and entertaining presenter.”
- “Excellent by a highly experienced presenter. I was simply interested in hearing if Robert had any nuanced points of benefit to me. The answer is yes.”
- “Seminar was excellent. Slideshow notes being provided beforehand was very useful as I was able to print and write additional notes. Robert was very knowledgeable and engaging.”
- “Robert Monahan’s presentation manner was engaging and attention grabbing for the entire session. Lots to take from this presentation and incorporate into my practice.”
At the end of this seminar, you will earn 3 CPD points.
Course Outline
9.30am: Welcome
9.35am: Introduction and overview
9.40am: Introduction to testamentary trusts
· Contrast between will drafting and estate planning
· What is estate planning – the proper diagnosis
· Lawyers liability to will maker and beneficiaries
10.40am: Stretch break
10.45am: What is a testamentary trust and types of trusts
· Types of testamentary trusts overview
· Testamentary trusts and taxation
· The taxation differences
11.45am: Stretch break
11.50am: Types of testamentary trusts
· Minors trusts
o Rules in Saunders & Vautier
· Life Interest trusts
o Payment of outgoings
o Adequate provision for a spouse?
o Substitute accommodation provisions
· Special needs trusts
o Distinguished from protective trusts
o Social security implications
· Charitable trusts
o Cy-pres doctrine
o Taxation
· Discretionary trusts
o Beneficiaries
12.50pm: Stretch break
12.55pm: Case Study
· Factual scenario
· Matters to consider
1.30pm: Close
This program is recommended for solicitors in NSW. It is aimed at practitioners in general practice, new lawyers, probate lawyers, family law practitioners, legal professionals who want to explore a new practice area, practitioners who would like to refresh their knowledge, financial planners, accountants and more.
This program is produced in NSW and features a NSW-based practitioner. This webinar is available to all NSW based practitioners.
All times listed for this course are Australian Eastern Daylight Time (AEDT). Please take note of any time differences if you are registering from WA, QLD, SA, NT or from outside Australia.
Substantive Law – 1 Point
Professional Skills – 2 Points
If you intend to claim CPD units for this educational activity, please note that CPD activities are not accredited by the Law Society of NSW or any other equivalent local authority, with the exception of Western Australia. If you hold a practising certificate in a state or territory other than Western Australia and this educational activity extends your knowledge and skills in areas that are relevant to your practice needs or professional development, then you should claim one (1) "unit” for each hour of attendance, refreshment breaks not included. The annual requirement is ten (10) CPD units each year from 1 April to 31 March. Some practitioners, such as accredited specialists are required to complete more than ten (10) units each CPD year.
Practitioners holding WA practising certificates are not eligible to earn CPD points for this course.
Robert Monahan, Accredited Specialist in Wills and Estates, Monahan Estate Planning
After many years in private partnership and corporate legal environments, in 2014 Robert established Monahan Estate Planning, a boutique practice where Robert and his daughter Julia specialise in Estate Planning, and Wills & Estate Law generally. Robert consults with accountants, financial advisors and other lawyers to deliver estate planning services to their clients – see www.MonahanEstatePlanning.com.au.
Since 1998, Robert has been a Law Society Accredited Specialist in the area of Wills and Estate Law. Robert is the General Editor of the Lexis Nexis Estate Planning Service, a regular contributor to the Retirement & Estate Planning Bulletin, and an author of a number of other publications dealing with Estate Planning.
"Most clients assume that lawyers are qualified to draft Wills and advise on estate planning generally. However, with the increasing complexity of asset structures and taxation issues, estate planning has become a growing specialist area. Knowledge of the use of testamentary trusts in estate planning is an essential knowledge area. This seminar looks at how testamentary trusts can be used to achieve positive outcomes for Willmakers and their beneficiaries."
Please be aware that this webinar organised by the College of Law may be recorded for use on our websites, marketing materials and publications. By attending and participating in a College of Law Continuing Professional Development course, you consent to the College of Law photographing or recording and using your image and likeness and/or voice.