Join comprehensive examination of absolutely essential topics in estate planning, difficult administration of estates and estates disputes. Discover strategies in your matters contesting a will and the strategic approaches to contentious probate cases. Learn about the latest developments in contracting out family provision claims and explore effective alternatives. Gain expert insights into managing international assets, from global estate planning to tax implications, and understand the evolving scope of fiduciary obligations relating to estates law. Benefit from the expertise of leading professionals in the field and enhance your skills in these critical areas of estates practice.
Description
* This interactive online recording includes questions and quizzes requiring critical thinking about the topics, so you have no annual limits to the number of points/hours you can claim with this format of learning. Please verify with your CPD rules
*Original Content was created in November 2024
Session 1: Challenging a Will and Fiduciary Relationship Obligations
Chair: Anthony Grant, Barrister, Paladin Chambers
Challenging a Will: Strategies for Success
- Grounds for challenging (or defending) a will
- Contentious probate proceedings
- Practice, procedure and strategy
- Case preparation and settlement negotiations
Presented by Laura Fischer, Senior Associate, Tompkins Wake
Dealing with Family Dynamics in Estate Disputes
Presented by Tammy McLeod, Managing Director, Davenports Law and Carmel Walsh, Barrister, Bankside Chambers
Tax Treatment of Distributions from Foreign Estates
Generally, whether a New Zealand resident inheriting assets from a foreign deceased estate is subject to tax depends on whether the beneficiary income or taxable distribution is derived from a trust. However, as assets are transferred across border, it can be tricky to determine when a trust arises. This presentation will cover:
- What constitutes ‘beneficiary income’ or ‘taxable distribution’
- Circumstances resulting in a trust or when a personal representative becomes the role of a trustee
- Analysis of applicable tax rules for distributions of assets derived from a foreign trust
Presented by Jo Giboney, Special Counsel, Duncan Cotterill
Legal Guide for Contracting Out Agreements
- When contracting out agreements are required.
- Procedural requirements (section 21F).
- Risks of an agreement being set aside.
Presented by Sarah Flett, Senior Solicitor, Morris Legal and Tom Kelly, Senior Solicitor, Morris Legal
The Alphabet Case and Expansion of Fiduciary Obligations
- Scope and limitations of fiduciary relationships between parents and children in New Zealand and the role of the Limitation Act
- Analysing the legal arguments including majority and dissenting opinions and their implications on NZ fiduciary duty
- The interaction between tikanga, statutory law and traditional legal principles on fiduciary duties
Presented by Mike King, Partner, Lane Neave
Learning Objectives:
- Develop a comprehensive understanding of the legal grounds for challenging or defending a will and the strategic considerations involved
- Gain insights into the practice, procedures, and strategies essential for handling contentious probate cases effectively
- Learn best practices for case preparation, including settlement negotiation techniques, to achieve favourable outcomes and dealing with family dynamics in will disputes
- Explore the legal framework for contracting out of family provision claims, appropriate circumstances for its consideration, and viable alternative agreements
Session 2: Foreign Assets in Estate Planning and Difficult Tax Issues in Administration of Estates
Chair: Anthony Grant, Barrister, Paladin Chambers
Estate Planning Involving Foreign Assets
- Assessing the nature and location of international assets
- How to determine a global estate plan with tax implications in mind
- Choosing between multiple wills, a local will, or an international will
- Accounting for global succession planning
- Common pitfalls to avoid
Presented by Samira Boock, Senior Associate, Dentons
Tax Obligations and Compliance in Deceased Estates
Dealing with the financial affairs of a deceased estate can be challenging. Whether you are an executor, administrator, or simply helping out, this presentation provides you with guidance on handling tax obligations and ensuring compliance with legal requirements.
Presented by Meg Murthi, Associate Director, The Advisory Group
Learning Objectives:
- Gain strategies for estate planning involving foreign assets and an understanding of accounting for global succession planning
- Be competant in the tax treatment of distributions from foreign estates
- Understand when to file the tax return in a variety of situations and the tax obligations of deceased estates
Attend and earn 5.5 CPD hours
Presenters
Tom Kelly, Senior Solicitor, Morris Legal
Tom began his legal career as a junior criminal defence barrister. In 2018, Tom moved into general litigation at Grove Darlow & Partners. Tom has experience in a wide range of litigation matters including body corporate disputes, construction claims, debt recovery and insolvency proceedings, and trust and estate claims. Tom appears regularly in the High Court and District Court. Tom joined Morris in 2023, where he specialises in complex trust, estate and family disputes. Tom is a member of the Family Law Section.
Mike King, Partner, Lane Neave
Mike is a partner at Lane Neave and has over 10 years’ experience appearing in Court on a variety of commercial disputes including property matters, shareholder disputes, agribusiness, defamation and insolvency matters. Mike also has specialist expertise in acting for clients involved in relationship property and trust and estate disputes in both the Family Court and High Court.
Laura Fischer, Senior Associate, Tompkins Wake
Laura is a senior associate in the Dispute Resolution team, specialising in relationship property and trust law. She deals with claims against estates, trusts and relationship property disputes, advises on contracting out agreements and acts on applications under the Protection of Personal and Property Rights (PPPR) including the appointment of property managers and welfare guardians.
Tammy McLeod, Managing Director, Davenports Law
Tammy is the Managing Director at Davenports Law and a trust and asset structuring specialist with over 20 years legal experience specialising in the areas of personal asset planning, trust law and Property (Relationships) Act. Tammy leads the Davenports Trust Team and, before joining Davenports in 2004, was a senior solicitor in a boutique trust practice. She is one of a handful of lawyers nationally who specialise solely in the area of trusts and asset planning, and a leading lawyer in her field.
Jo Giboney, Special Counsel, Duncan Cotterill
Jo specialises in taxation law working with clients in both the private and public sectors. She advises on the New Zealand tax implications of a wide range of matters including business structures, reorganisations, mergers and acquisitions as well as isolated transactions. Working collaboratively with teams across all our firm’s practice areas, Jo ensures material tax risks are identified, and solutions are recommended in a timely and efficient manner. In addition to tax advisory work, she regularly provides input in relation to transaction documentation and drafting, so that outcomes for clients are optimised from a taxation, as well as commercial perspective. Jo provides bespoke advice for transactions, advising on any legal changes likely to impact particular clients. She obtains binding rulings from Inland Revenue to provide certainty for clients in relation to complex or high-value transactions, and represents clients involved in tax investigations and disputes with Inland Revenue.
Meg Murthi, Associate Director, The Advisory Group
After recently joining The Advisory Group as a Senior Manager in the International Tax Team, Meg has been promoted to Associate Director. Meg has considerable experience in tax. She has worked for Deloitte and Ernst & Young in New York City and New Zealand. She has advised an array of clients on their cross-border transactions, business divestments and expansions (including mergers and acquisitions). She has also conducted tax reviews to mitigate inefficient tax costs and identify potential contingent tax liabilities for financial reporting. Meg has extensive knowledge in audit defence and tax controversy. She has worked as an Investigator at Inland Revenue and has unique insight on how best to advocate for her clients interests to ensure pragmatic settlement outcomes on contentious matters. Meg has also managed tax automation projects involving the implementation of electronic invoicing and tax engine systems. She has prepared business cases; helped select vendors; documented business requirements; completed transaction mapping; and provided tax technical feedback to ensure successful implementation of the automated system.
Anthony Grant, Barrister, Paladin Chambers
Anthony Grant is a Barrister and advisor on the laws concerning Trusts and Estates. He also acts as a professional Trustee. Anthony is a member of STEP (the international Society of Trust and Estate Practitioners) as well as the Auckland District Law Society’s Trust Law Committee. He regularly appears in the Senior Courts on issues involving Trusts and Estates and writes and speaks extensively on these topics.
Sarah Flett, Senior Solicitor, Morris Legal
Sarah Flett is a senior solicitor at Morris. Sarah completed her BA/LLB at the University of Canterbury. Before joining Morris in 2022, Sarah worked as a solicitor in the dispute resolution team at Parry Field Lawyers in Christchurch. Sarah has experience dealing with complex trust, estate and family disputes. She acts for trustees, executors, property managers, beneficiaries and HNW individuals. Sarah has appeared in the Family Court and High Court and has attended numerous mediations. Sarah also has expertise in capacity issues, including the removal and appointment of welfare guardians and property managers.
Carmel Walsh, Barrister, Bankside Chambers
Carmel has over 25 years’ experience as a litigator in New Zealand, Hong Kong, and England. She was admitted as a barrister and solicitor in New Zealand in 1993; and a solicitor and solicitor advocate (Higher Courts Civil) in London in 2000/2001. She holds both a New Zealand and English practising certificate. Carmel is a former contributing author to Informa’s Reinsurance Practice and the Law, and a former secretary and editor of the Negligence and Damages committee of the International Bar Association. Since returning to New Zealand Carmel has specialised in property litigation, equity and trusts, estates litigation and relationship property, particularly where complex issues arise requiring expert forensic accounting evidence. Carmel sits on the board of the New Zealand Symphony Orchestra, NZTrio and the New Zealand Opera School.
Samira Boock, Senior Associate, Dentons
Samira is a member of New Zealand’s Private Wealth team. She advises on a variety of private wealth matters including all aspects of New Zealand trust-related taxation, pre-migration tax planning, the administration and governance of domestic and offshore trusts and family office design and execution. Samira has significant experience in New Zealand relationship property law matters including complex cross-border considerations. She also regularly advises on family disputes involving the interplay between trusts and relationship dissolution as well as estate claims. She will often reach successful settlements and otherwise assists litigators in obtaining successful judgments in our courts. As a trusted advisor to many families and individuals, Samira is great at reassuring clients by offering level-headed advice where there are complex legal and relationship issues. Samira has completed a Society of Trust and Estate Practitioners (STEP) Diploma in Trusts and Estates and is a member of the Society of Trust and Estate Practitioners.
Anthony Grant, Barrister, Paladin Chambers
Anthony Grant is a Barrister and advisor on the laws concerning Trusts and Estates. He also acts as a professional Trustee. Anthony is a member of STEP (the international Society of Trust and Estate Practitioners) as well as the Auckland District Law Society’s Trust Law Committee. He regularly appears in the Senior Courts on issues involving Trusts and Estates and writes and speaks extensively on these topics.
