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Succession of a super fund
Published on 01 Feb 19 by "THE TAX SPECIALIST" JOURNAL ARTICLE
For many Australians, superannuation represents a major portion of their legacy to be left to dependants and beneficiaries. However, there are a number of traps when using a self-managed superannuation fund (SMSF) for estate planning, particularly where blended families are involved. For that reason, it is important to understand the rules for succession and control of SMSFs, and to set in place strategies to ensure your assets are passed to the right people in the most effective way on your death. By reference to current legislation, leading case law and commonly encountered problems, this article discusses how interests in an SMSF should be dealt with as a part of a comprehensive estate plan.
Author profile
Laura Hanrahan
Laura Hanrahan works with families to provide tailored personal and business succession solutions. Her tailored succession planning includes drafting complex wills, testamentary trusts, enduring powers of attorney, discretionary trusts, self managed superannuation trusts, binding death benefit nominations and deeds of family arrangement. Laura also has a particular focus on self managed superannuation funds. Including the establishment of SMSFs and other compliant SMSF investment structures, compliance advice and death benefit planning and payment. Every family is different and Laura enjoys using her creativity to help clients create a succession plan which works for them. - Current at 18 September 2024
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