News : Documentation

Documentation, Estate Planning

Trustee dispute underlines need for deed certainty

SMSF deed power of attorney

Trustees appointed under an enduring power of attorney (EPOA) will remain in the role unless the SMSF trust deed terminates their role, meaning they can direct death benefits to any party including themselves, an SMSF legal expert has warned. Hill Legal principal and senior lawyer Chris Hill gave the warning in the wake of the […]

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Administration, Documentation

EPOAs may save trustees future trouble

SMSF enduring power of attorney

Trustees who do not grant an enduring power of attorney while they have the capacity to do so may place their SMSF at risk of being non-compliant in the future, an SMSF expert says.

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Documentation

Court confirms ‘self-evident’ trustee appointments

court confirms trustee appointments

A recent court case has highlighted the key role an SMSF deed plays when trustees are appointed to a fund, with one expert labelling the case confirmation of a self-evident process.

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Documentation

Incapacity definition requires caution

incapacity; definition; documentation

A senior SMSF consultant has warned setting a definition for incapacity with regard to proper super fund documentation is not a simple task and advisers should be wary of the associated complexity.

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Documentation, Strategy

Abbott to seek funds, continues political push

Man taking money out of wallet for crowdsourcing

SMSF expert Grant Abbott will seek crowdsourced funding to expand his fledgling document business and has also committed to growing his recently launched political party.

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Documentation, Strategy

Wording can undermine BDBN

The wording of a binding death benefit nomination is paramount in determining its efficacy, a specialist lawyer has said.

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Auditing, Documentation

Lack of details creating related-party concerns

SMSFs need to provide as many details as possible on related-party transactions to avoid problems during a fund audit.

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Documentation, Succession Planning

Succession conflict resolution critical for deeds

Referree blowing a whistle

It is important for SMSF trust deeds to have the ability to resolve conflicts between different types of succession planning measures, a specialist lawyer has said.

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Accounting, ATO, Documentation

Accountants should use peers for SMSF paperwork

Accountants should consider using their peers to produce financial statements for their own SMSFs to avoid raising flags with the ATO.

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Documentation, Tax

Testamentary discretionary trust death benefit bonus

SMSF death benefits can be better protected from external threats and receive more favourable tax treatment with the use of a testamentary discretionary trust.

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