News : Estate Planning

Estate Planning, Succession Planning

Wider asset pool key to SMSF advisers’ future

estate planning SMSF advisers

SMSF advisers should expand their skills to include estate planning to engage with clients who will pass on trillions to family in the next 20 years.

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Documentation, Estate Planning

Make death benefit nominations fund specific

Make death benefit nominations fund specific

The legal competency of fund members and the make-up of their SMSF must be taken into consideration by trustees when setting up binding death benefit nominations, an SMSF expert says.

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Estate Planning

Topdocs upgrades estate planning capability

Topdocs estate planning

Topdocs has improved the range and content of its estate planning documentation and partnered with a legal service to connect advisers with legal firms.

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Documentation, Estate Planning

Adviser support key to managing member incapacity

member incapacity support

Member incapacity is likely to grow and advisers should find innovative ways to provide support to ensure the continued smooth running of SMSFs.

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Administration, Estate Planning

Replacement trustee option essential in SMSF deeds

SMSF deeds replacement trustee

Trust deeds should ensure an SMSF have an option to nominate a replacement trustee in the event of a member’s death and not assume someone will be appointed to the role, an SMSF expert says.

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Estate Planning, Succession Planning

SMSF succession plan hangs on correct reading of deed

SMSF succession plan deed

SMSF succession plans need to start with an examination of the deed, as well as later changes, to ensure the plan can be made operative in the future, an SMSF expert has advised.

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Estate Planning

Advisers should recognise death benefit red flags

estate planning death benefit strategies

Better estate planning outcomes can potentially be achieved if advisers identify concerning aspects of death benefit strategies at their outset, according to an SMSF technical expert.

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Accounting, Estate Planning

Estate planning ripe for accountant involvement

accountants estate planning

SMSF accountants should consider offering estate planning services to clients as few other groups are currently meeting their need for advice.

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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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Estate Planning, Tax

Death benefit lump sums restrictive

Death benefit; lump sum

A senior superannuation consultant has warned lump sum death benefits can be restrictive when managing the financial obligations resulting from a deceased member’s affairs.

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