SAPEPA Accreditation Course - Self-paced

This is a release of The Strategist August 2019 monthly edition and for use by all I Love SMSF Members.

"I loved the Course and it has given me so much confidence to discuss with clients the need to protect their families wealth for their bloodline. It has changed the way I think and my clients are so engaged. I have reinvigorated my accounting business by adding new back office staff to take away some of my tax compliance giving me time and space to do more profitable work. Currently I have $75,000 of SAPEP work in the pipeline. Best thing I have ever done and great to be part of a new SAPEP community." Mitch Schoers, AMS Business and Tax Advisers, Sunshine Coast

There is an incredible need for a professional who can manage a family’s succession plan, provide all-around asset protection – both during and after death, plus set in place dynamic estate planning using Living Trusts, SMSFs and to a far lesser extent Wills and testamentary trusts (tinderboxes for family provisions claims). If you are an accountant or financial planner looking to advance to become a Succession, Asset Protection and Estate Planning adviser – or as we know it, a Family Wealth Protector, then doing the SAPEPAA accreditation course is for you.

Who is SAPEPAA?

The Succession, Asset Protection and Estate Planning Advisers Association has been going for two years and is an independent, not for profit association that is now up and running and offering accreditation for SAPEP advisers. As a SAPEP adviser, being one of the first few hundred in Australia, the opportunities are endless. If you complete the course you can become an Accredited SAPEPAA Adviser through the Association's certification process (currently completion of the LightYear Docs course).

For more information on SAPEPAA - www.sapepaa.org.au

The LightYear Training Group SAPEPA Accreditation course is built on the comprehensive competency standards published by the SAPEPA Association. By the end of the course and following the accreditation test you will have the skills and knowledge to advise on, amongst many other things:

• Creating multi-generational succession planning with clients building legacy trusts for generations to come
• Offering the option of enhanced bloodline and asset protection structures including discretionary trusts and SMSFs
• Building Wills, testamentary trusts, enduring powers of attorney and advance health care directives
• Creating special purpose BDBNs for SMSFs that enable spouses, adult children and grandchildren to settle a deceased’s superannuation death benefits into a special purpose testamentary trust that lives outside the deceased’s estate
• Developing multi-generational tax-free pensions for spouses, brothers, sisters and grandchildren
• Comprehensive asset protection from bankruptcy and family provisions claims
• A range of Division 7A solutions
• Protecting business assets with a Family Protection Trust.

The LightYear Training Group will be offering Australia's most important accreditation for the accounting industry. This three-day course will be held online and cover fourteen modules with an online open book certification examination after the event. You will have 6 months to complete the examination in your own time.

**The fee for certification with the SAPEPA Association is independent of the LightYear Training Group and is $250 or forms part of your first years membership to the Association.

For TPB - 18 hours deal with the passing on and protection of family wealth and the tax consequences of estate planning, running a SMSF, trust taxation, minors taxation, using EPOA;s for tax and SMSF purposes and building tax effective multi-generational structures to help a Tax Agent meet client needs, professionalism and professional ethical standards in dealing with clients

Learn the Strategies and SAPEP solutions, talk to clients about them, action them and use our Success Tool to measure your success

The Fourteen Modules for the SAPEPA Accreditation training are:

1. The SAPEP market in Australia      and around the world – history, background, the current state of      play and five years from now. The importance of SAPEPAA dealing with      governments, insurers and other associations as well as growing Australian      perceptions to build the SAPEP advice space.
2. The importance of Succession – whether it is dealing with a      client, a family, discretionary trust, self-managed super fund, enduring      power of attorney, advance health care directive or establishing executors      for an estate, succession is the key to success. Learn how to build proper      lines of succession that would rival the British Royal Family.
3. The Different Structures – in this module we will      look at a number of structures, discretionary trusts, SMSFs, unit trusts,      testamentary trusts, living trusts (aka family protection trusts) and      Leading Member trusts to determine the best for succession, asset      protection, control and estate planning.
4. The Importance of Documentation      - in      building a client solution across tax, super, succession, estate planning      and asset protection the first stop is the documentation. Poor documentation      leads to weak or inoperative structures. In this module, we will look at      some good documentation, great documentation that really serves its      purpose and absolute disasters that have cost a lot in terms of      rectifications. Also, learn about the magic of deeds of rectification and      ratification.
5. Advanced Asset Protection – a discretionary trust not      established, well, loses all asset protection and it generally loses its      effectiveness because of no succession appointor and corporate trustee      shares (and control) being exposed. In this session, you will learn how to      master asset protection across a range of structures and businesses.
6. Powers of Attorney and Successor      Directors -      each State has its own rules regarding a Principal executing a lifetime      power of attorney for health and financial matters but did you know they      can specifically be used for replacing trusteeship in a SMSF, building a      successor director for business continuity or even redoing a binding death      benefit nomination? - Provided the documentation is right.
7. Simple Estate Planning - Wills and testamentary trusts have      been around for centuries and each State has its own laws in terms of      valid estate planning. In this session, we will look at the basics of      estate planning, the terms and language, the legalities of creating a      Will, how accredited SAPEPA advisers can create both Wills and      testamentary trusts and a deep dive into the benefits of a testamentary      trust.
8. The Lifetime Trust v the Will - many of our fellow common      law countries don't go down the Will path due to the costs of probate,      challenges to estates and the simple timing in getting benefits to      beneficiaries. Instead, the use of a Living Trust where assets are held      for generations, with conditions if needed, are commonly used. In this      session, we will briefly review both the process of estate administration      and the development and creation of a Living Trust in Australia.
9. Advanced Estate Planning - in this session we will review      advanced estate planning techniques and strategies for blended families,      estranged families, divorced couples with children and overseas Wills.
10. Administration of Estates - the process for administering an      estate in Australia can range from a minimum six months to over two      decades if the estate is over $2M and a strong family provisions      challenge. In this session, we will look at the 15 steps to effectively      administer an estate and how a SAPEPAA adviser can look after this high      fee earning task for existing clients.
11. The Client Interview - the fundamental part of a      successful SAPEPAA plan is the client interview - whether directly, via      Zoom or through a data capture. Gaining rapport and respect when dealing      with families and family wealth protection is the key to success and in      this session, we will be reviewing a simple interview process, which takes      no more than 45 minutes but delivers a vast array of solutions and client      strategies.
12. Family negotiations - passing wealth and more      importantly, family businesses can be tough from a strategic point of view      but when there is possible family conflict along the way it is vital to      map out family succession strategies and deliver solutions amenable to all      or a nasty Court battle may ensure
13. Employee and Family Share Plan      - succession      planning is important all across the Board and the use of employee share      plans for death, disability or retirement of a key business owner are a      great offering for clients and their teams. This can also be incorporated      into a family succession plan.
14. Building a SAPEP advice business - it is great to be a visionary but      visionaries often battle alone. Not with SAPEPAA, your association to look      after your needs. In this session, we will look at the ideal SAPEPAA      business model and also budgetary spreadsheets and advice capacity.

$5 of all ticket sales donated to The Black Dog Institute. To find out more, click here.

LENGTH:

Three days

CPD:

18 hours - SAPEPAA, TPB and CAANZ plus 6 hours Client Care and Practice, 5 hours Technical Competence, 1 hour Regulatory Compliance and Consumer Protection, 6 hours Professionalism and Ethics