SMSF succession planning.
26 Sep 11 |
CCH TAX WEEK
Issue: Issue 34, 8 Sep 2011
Pages: pp. 1-5
Succession planning in an SMSF should be an important consideration for all SMSF members. With the right planning, a smooth succession can be achieved with minimal costs and administrative hassles upon the death of an SMSF member. Conversely, where planning is not undertaken before death, there may be uncertainty as to whom death benefits will be paid to, as well as a range of unexpected consequences for the remaining trustees (or directors of the corporate trustee).
This article outlines some of the essential planning strategies that members should undertake in order to achieve a smooth succession. It also outlines the legal implications of the death of an SMSF member.
This item is not available for download from this website. Please contact the Tax Institute library for assistance. Charges will apply.
Dan is one of Australia's leading SMSF lawyers and has worked predominantly in the SMSF, tax and related fields for over 30 years. He is a regular presenter on SMSF topics and has published extensively in professional journals including contributing a monthly article on SMSFs to the Taxation in Australia and other media. Dan is a member of the ATO's Superannuation Industry Relationship Network (SIRN), the Chair of The Tax Institute's National Superannuation Committee, a member of the Law Institute of Victoria's Tax Committee, and is involved with a number of other tax and SMSF committees. Dan presents on the subject Taxation of Superannuation at the University of Melbourne's Master of Laws/Tax program. Dan is also a CTA and a Specialist SMSF Advisor.
- Current at
19 September 2016
Nathan is a lawyer with DBA Lawyers.
- Current at
01 June 2012