Speaker - Claire Booth, CO Booth Law and Advisory - Legal, Tax and Succession. Let's get the issue out on the table

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Speaker - Claire Booth

About Claire

As a specialised lawyer in the estate and succession planning area, I enjoy working with clients to transfer their wealth to the next generation. Often, this involves related commercial transactions and working with accountants regarding tax and structures.

Advising on the law of superannuation and ensuring there are sufficient resources for retirement and aged care is also critical, and this aspect of my work involves working with financial planners.

Claire will be speaking from 12:00 noon to 12:30 pm.

Some of the questions we want to fire at Claire might include:

• What do you Farm, and where do you Farm?
• How long have you been practising, and how many of your customers are Farmers?
• I read where you said it costs roughly $100,000 to do a succession plan but could cost millions if you don't do one. What have been some of your experiences?
• We'd argue that with high Land prices Succession is probably the biggest issue in Ag. Would you agree?
• Why is it such an avoided subject?
• Does someone have to lead the charge when it comes to succession?
• What if the Farm isn't financially enough for succession? How do we find a way?
• Where does Estate planning fit in?
• How do we get Farming families to take the first step to succession planning?
• Do you find that the legal work can be a little bit different from the norm when dealing with Farmers?
• How will the new rise in tax concessions for super balances over $3 million affect Farmers?
• When does that kick in, and is there anything Farmers need to be doing in the lead-up? 
• The generous instant asset Tax write-offs we have had in the past, are you a fan, or do we always eventually pay later on?
• From a tax point of view, apart from paying it, what is the best bit of tax advice you would give Farmers?