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This comprehensive course on estate planning and administration in Australia covers all the essential concepts, with a focus on the role of accountants. Participants will gain a deep understanding of the complex issues that may arise when dealing with a deceased estate, including hidden financial and personal circumstances.
The course covers legal requirements and processes, such as obtaining probate and identifying assets and liabilities. Participants will learn about potential challenges and risks associated with contesting a will, executing a power of attorney, and navigating financial institutions, creditors, and beneficiaries with potentially conflicting interests. They will also understand the tax-related issues in the administration of deceased estates, including tax liabilities, tax-free entitlements, concessional tax rates, and minimizing tax liabilities.
The course also covers best practices for dealing with financial assets during estate administration, including joint bank accounts, superannuation funds, and insurance policies. Participants will learn about different types of wills, ethical considerations, and how to handle digital assets securely.
By the end of the course, participants will be equipped with the knowledge and skills to navigate these challenges effectively, work with legal professionals, and communicate clearly with all parties involved. They will leave the course with a thorough understanding of estate planning and administration, including the role of accountants, best practices, and ethical considerations.
Some of the topics discussed:
