Units
Estate Planning
Unit code: LWN083
Contact hours:
Credit points: 12
Information about fees and unit costs
In recent years there has been a renewed interest in all aspects of estate planning. During the period when death duties were imposed at both the State and Federal levels, professional interest in this area was high as the public perceived its need for expert professional advice, particularly as it related to the structuring of a person's affairs to minimise the impost of these duties. The emergence of capital gains tax and the realisation of its growing significance, together with a recent emphasis generally on financial planning has again brought this area to prominence. At a time when the legal profession is looking for new areas at work, there is also evidence that lawyers see this area as one which has been largely neglected. This unit seeks to conceptualise a framework in which the issues which arise in estate planning can usefully be considered.
Availability
| Semester | Available |
|---|---|
| 2012 Semester 2 | Yes |
Sample subject outline - Semester 2 2012
Note: Subject outlines often change before the semester begins. Below is a sample outline.
Rationale
In recent years there has been a renewed interest in all aspects of estate planning. During the period when death duties were imposed at both the State and Federal levels, professional interest in this area was high as the public perceived its need for expert professional advice, particularly as it related to the structuring of a person's affairs to minimise the impost of these duties. The emergence of capital gains tax and the realisation of its growing significance, together with a recent emphasis generally on financial planning has again brought this area to prominence. At a time when the legal profession is looking for new areas at work, there is also evidence that lawyers see this area as one which has been largely neglected. This unit seeks to conceptualise a framework in which the issues which arise in estate planning can usefully be considered.
Aims
This unit aims to develop and analyse a framework for the legal, commercial, economic and social issues that arise in estate planning.
Objectives
On completion of this unit you should be able to:
1. Understand the principles and concepts involved in estate planning;
2. Develop a methodology which enables you to comprehensively and critically engage in work in this area;
3. Demonstrate an appreciation of the professional responsibilities of a legal professional practicing in estate planning;
4. Identify and critically analyse the range of strategies required to engage successfully in professional work in this area; and
5. Write a research paper on a contemporary problem in the estate planning domain.
Content
Topics covered in this unit will include:
- General principles of estate planning;
- Choosing appropriate trading and holding entities;
- Use of Discretionary trusts in estate planning;
- Superannuation - legal and taxation issues;
- Estate accretion/wealth creation, including Estate protection and Estate transmission;
- The effect of family breakdown on estate planning;
- The effect of bankruptcy/insolvency on estate planning; and
- Will drafting
Approaches to Teaching and Learning
You are required to attend one two hour class each week. The unit will be taught to a degree on a team teaching basis with the unit coordinator taking the majority of the classes and the others involving guest lecturers who are experts in the particular subject matter on which they will be invited to address the class.
The unit will be delivered using predominantly a seminar format with students encouraged to participate in the seminars and to have an input into the issues considered and to be considered. Problems may be set for student consideration in advance of a class.
Assessment
Students will have the opportunity to consult with staff on an informal basis about any aspect of the unit throughout the semester.Oral feedback will be offered to you by the lecturer during class discussion.
Assessment name:
Discussion Forum/paper
Description:
Class attendance and performance including performance in the delivery of discussion papers or answers to problems as may be set from week to week.
Relates to objectives:
This links to objectives 1-4
Weight:
20%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Weekly
Assessment name:
Essay
Description:
External students are required to answer three (3) exercises relating to aspects of the course. Each exercise is to be approximately 1,000 - 1,500 words in length.
Relates to objectives:
This links to objectives 1-4.
Weight:
20%
Internal or external:
External
Group or individual:
Individual
Due date:
TBA
Assessment name:
Research Paper
Description:
Approximately 5,000-8,000 words on an estate planning topic which relates to the subject matter of the unit. Guidance as to choice of topics will be provided by the unit coordinator. Your research paper should comply with the rules for the presentation of research papers and projects in the section on "Guidelines for Presentation of Research Papers and Research Projects" in the Postgraduate Student Information Booklet. The School of Law has produced its own citation guidelines. These may be accessed at: http://www.citewrite.qut.edu.au/QUT-Legal-Reference-Style-Guide.pdf. These guidelines are recommended for all students undertaking postgraduate studies.
Other citation guides may be used, after written approval to do so from the unit coordinator or supervisor.
Relates to objectives:
This links to objectives 1-5
Weight:
80%
Internal or external:
Both
Group or individual:
Individual
Due date:
Week 13
Academic Honesty
QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.
A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.
Resource materials
1. Magney, T and Scholtz, W. (1995) Tax Planning for Business. Butterworths
2. Roland, C and Tamsitt G (1994) Hutley's Australian Wills Precedents. Butterworths 5th ed
3. Cooper's Capital Gains Tax Guide. Butterworths (looseleaf service)
4. de Groot, JK (1985) Wills, Probate and Administration Practice (Queensland). CLE, Queensland Law Society (looseleaf)
5. Darvall C, Fernon NTF and McDonald (1995) Henry and Meek's Australian Bankruptcy Law and Practice. Law Book Company 5th ed
6. Lehmann G and Coleman C (1994) Taxation Law in Australia. Butterworths 3rd ed
7. Forde HAJ and Lee WA (1990) Principles of the Law of Trusts . Law Book Company 2nd ed
8. Australian Superannuation Law and Practice CCH Australia (looseleaf service)
9. Hardingham IJ and Baxt R (1984) Discretionary Trusts. Butterworths 2nd ed
10. Mann G (1994) Stamp Duties (Queensland) Law Book Company (looseleaf)
Risk assessment statement
There are no out of the ordinary risks associated with this unit
Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.
Last modified: 15-May-2012
