Trustees cannot withhold any legal advice they have sought during a dispute if it has been paid for by their super fund which in reality is the owner of the advice, an SMSF lawyer has noted.

The ATO has confirmed trustees will have to ensure proper protocols are followed when using electronic signatures to approve SMSF financial statements.

A specialist lawyer has advised for particular attention to be paid to company constitutions of SMSF corporate trustees as they hold the key to decision-making for the fund.

Blanket clauses in EPOAs overriding conflicts of interest relating to the making or extending of BDBNs are likely to be ineffective or, in some cases, high-risk.

A trustee should check all claims to any death benefits even where they may have total discretion over the payments, an SMSF lawyer has advised.