News : Estate Planning

Estate Planning

Legal weight behind BDBN validity exemptions

BDBN validity exemptions

Four separate court cases have now confirmed SMSF BDBNs are not covered by super laws regarding witness numbers and validity periods.

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Estate Planning

SuperStream changes death benefit rollovers

Death benefit rollovers SuperStream

Death benefit rollovers will be treated differently under SuperStream from 1 October, depending on who the beneficiary is in the eyes of the ATO.

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Estate Planning, Superannuation

Estate planning not formulaic

SMSF estate planning

SMSF practitioners need to be prepared for all situations that could possibly trigger the implementation of estate planning or fund succession strategies.

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Estate Planning, Strategy

Exempt trust income treatment still unclear

excepted trust income

The treatment of assets passed from a super fund to a testamentary trust remains unclear after changes made in last year’s budget.

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Estate Planning

New body aiming to prevent advice disasters

SAPEPAA wealth transfer

Wealth transfer association, SAPEPAA, has stated its purpose was to prevent ‘the horror stories’ that result from bad advice associated with wealth transfer matters.

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Documentation, Estate Planning

BDBNs not flexible death benefit solution

BDBNs flexible death benefits

SMSF members with strong family relationships may wish to avoid using a BDBN to gain more flexibility in how death benefits will be paid.

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Estate Planning, Financial Planning, Succession Planning

Intergenerational relationships needed

intergenerational advice relationships

Intergenerational client relationships, instead of a focus on mature age clients, is critical for the future success of advisory practices.

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Appointments, Estate Planning, Succession Planning

Wealth transfer body names new directors

wealth transfer new directors

Three new directors have joined a fledgling association looking to represent the interests of advisers working in the wealth transfer space.

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Estate Planning, Financial Planning, Succession Planning

New body to focus on skills before size

SAPEPAA skills size

A new representative body will retain its boutique status for some time after its launch as it focuses on specialisation ahead of scale.

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Documentation, Estate Planning

Trustee structure equal to BDBN in importance

trustee structure BDBN

In addition to ensuring they have a valid BDBN in place, members concerned about what will happen to their super upon their death need to consider who will be in control of their fund, an SMSF technical expert says.

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