Estate Planning: Wills and Trusts
Presenters : Jako Liebenberg CA(SA)
Overview
Professional accountants offering estate planning advisory services are obligated to carefully evaluate the various factors impacting the harmonious and effective structuring of assets within an estate.
Join Jako Liebenberg CA(SA) as he shares his expertise and guides you through the essential considerations for effective estate planning.
Learning objectives
The webinar will equip you with the confidence and skills to:
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Advise clients on the options to ensure business succession.
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Advise clients on the most appropriate mechanisms to protect assets and minimise tax liabilities.
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Identify appropriate circumstances to include a trust in the estate plan.
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Evaluate the different legal frameworks governing estate planning.
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Mitigate the most common challenges and risks impacting estate planning.
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Perform estate planning to address the unique needs and goals of clients.
Content
The webinar will cover the following topics:
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Definition of an estate.
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What constitutes an estate?
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Difference between probate and non-probate assets.
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Estate planning.
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Importance of estate planning.
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Tools for estate planning.
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Valuation of an estate.
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How to appraise real estate, personal property, and investments.
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Role of professional appraisers.
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Estate taxes and strategies to minimise them.
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Distribution of an estate.
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Process of distributing assets.
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Role of the court.
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Challenges in estate administration.
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Common disputes in estate administration.
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Legal remedies for resolving disputes.
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Types of beneficiaries.
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Primary vs. contingent beneficiaries.
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Per stirpes vs. per capita distribution.
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Rights of beneficiaries.
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Changing beneficiaries.
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How to update beneficiaries in wills and trusts.
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Legal implications of beneficiary changes.
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Disinheriting a beneficiary.
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Disputes involving beneficiaries.
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Common causes of disputes.
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Legal avenues for resolving disputes.
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Role and responsibilities of an executor.
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Duties in managing the estate.
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Responsibilities towards beneficiaries.
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Choosing an executor.
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Qualities to look for.
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Legal requirements..
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Compensation for executors.
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How executors are compensated.
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Factors that influencing compensation.
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Challenges faced by executors.
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Common challenges and how to overcome them.
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Legal liabilities of executors.
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Removal or replacement of an executor.
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Grounds for removing an executor.
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Process for appointing a new executor.
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