Online CPD Module l Booklet l PowerPoint Presentation
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Online CPD Module
Presentation time: 60 minutes
With longer life expectancy and more instances of remarriage, asset planning and protection for your client has become increasingly more complex. Effective protection of assets requires a real understanding of the issues and potential risks to your client.
This seminar will discuss possible complications and consider the different solutions, along with the specific tools available to lawyers advising their client about asset protection.
Topics covered will include:
- Business creditors
- Risks of being company director or holding similar corporate office
- Risks of being a trustee
- PRA claims
- Residential care subsidies
- Other state assistance/benefits.
- EPAs – making sure the right people are in place to look after your assets in the event of incapacity
- Trusts – the standard remedy
- Gifting generally
- Company v trust structures.
Please contact us if you use a dial up internet connection.
- Be aware of possible issues or complications when protecting assets.
- Gain an understanding of the ways in which you can advise to better protect your clients’ assets.
Authors: Chris Kelly, Greg Kelly
Published: 28 October 2014
Surprisingly clients, who work hard to build up their business and other assets, often neglect to think about the risks that they face. Typically most clients will only come to see their lawyer because they have a particular transaction they need legal assistance with: buying or selling a property for example.
When opportunities like this present themselves, lawyers need to be aware of the importance of talking about wider concerns, including protecting assets. It is easy to overlook these wider concerns and to confine ourselves to carrying out the specific instructions.
If we take our time to talk through our clients’ position more widely, it will often become apparent that little thought has been given to the various ways in which clients can protect themselves. Wills, enduring powers of attorney, trusts and other structures are not necessarily in the forefront of our clients’ thinking. By pointing out the potential risks and the ways in which these can be dealt with, we can add value as professional advisers and build client loyalty.
This seminar paper considers first the risks that clients face and then reviews the various steps that can be taken to avoid or minimise such risks.
These are the slides included in the presentation.
Number of Slides: 20