THE INSTITUTE FOR WILLS AND ESTATE EDUCATION

Joint Asset Planning

This program has been accredited by the Law Society for 1.0 Professionalism Hour
This program is eligible for 2.0 Substantive Hours

1.            Advantages and Disadvantages of Jointly held assets (10 mins)

 

Ø  Estate Administration Tax Reduction

Ø  Pitfalls of Joint Ownership

2.            The Current Law on Joint Assets  (10 mins)

Ø  Resulting Trust vs Advancements;

Ø  Presumptions at law with adult children and spouses;

Ø  What Assets do the presumptions apply to?

3.            Supporting or Rebutting the Presumption of Resulting Trust  (15 mins)

Ø  Relevant Evidence;

Ø  What should your notes say?

4.            Ethical and Professional Issues in Joint Asset Planning (45 mins)

Ø  Identifying your client;

Ø  Joint retainers;

Ø  Maintenance of the solicitor-client relationship throughout the retainer

Ø  Managing client expectations regarding fees

Ø  When to recommend ILA.

5.            Deeds of Gift – Precedent provided  (15 mins)

6.            Declarations of Intention – Precedent provided  (15 mins)

7.            Why joint property may still be subject to probate fees  (5 mins)

Ø  Using Multiple Wills for jointly held property

8.            Avoiding potential liability when planning with Joint Assets (20 mins)

Ø  Advising clients on joint asset planning, conducting effective client interviews

Ø  Discussing Joint asset Planning with clients and advisors;

Ø  Reporting on issues of Income Tax and Land Transfer Tax.

Ø  Reporting to clients on joint asset planning in plain language.

9.            Can you have your cake and eat it too?  Combining joint asset planning with other safeguards (25 mins)

Ø  Domestic Contracts

Ø  Secret Trusts

 

10.          Questions and Answer Period (20 mins)


 

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