The failure to comply with formalities when exercising the discretion associated with executing a binding death benefit nomination (BDBN) is the most likely avenue of challenge against these SMSF estate planning instruments, according to a specialist superannuation lawyer.

Recent analysis into SMSF investors has found a substantial outflow from listed trusts and separately managed accounts (SMA).

SMSF investors must ensure their enduring power of attorney (EPOA) document caters to all possible scenarios clearly, such as incapacity, to avoid leaving it wide open to disputes, an industry lawyer has said.

Online SMSF legal document provider Cleardocs has been integrated into the Macquarie Cash Management Account (CMA) application process.

SMSF administration service provider Xpress Super is the latest organisation to oppose the implementation of barriers for individuals wanting to establish an SMSF.

Amid frequent attacks on SMSFs, the Australian Taxation Office (ATO) has announced it regards the growth and current operation of the sector as a resounding triumph.

A trust deed with obtained consent to fire minority members can mitigate the risks of having children in an SMSF, however, it was not common practice, an expert SMSF lawyer has said.

The ability to provide advice on existing risk insurance cover in regard to switching from an Australian Prudential Regulation Authority-regulated fund into an SMSF is a subject requiring greater clarity, according to a financial services technical expert.

SMSF trustees wanting to transfer retirement savings held in overseas pension schemes need to be aware these types of transactions count towards their contributions cap limits, a superannuation technical specialist has warned. Legal changes now allowed trustees to bring superannuation balances accumulated offshore into their SMSFs, however, there was a misconception as to how those […]