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SMSF succession planning.

Publication date: 26 Sep 11 | Source: 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.

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Author profiles

Daniel Butler CTA
Photo of author, Daniel BUTLER Dan is recognised as one of Australia’s leading SMSF lawyers complemented by his taxation and commercial expertise. He has worked predominantly in the fields of tax and superannuation over the past 30 years, is a qualified Chartered Tax Adviser, Chartered Accountant and has an MBA from the University of Melbourne. Dan is a regular seminar presenter on tax and SMSF topics and has published extensively in these areas. Dan regularly presents for the major professional bodies including the SMSF Association, The Tax Institute, Chartered Accountants Australia and New Zealand and DBA Network. Dan is a member of the ATO’s Superannuation Industry Relationship Network, the Chair of The Tax Institute’s National Superannuation Committee and is 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 of Taxation of Superannuation at the University of Melbourne’s Master of Laws/Tax program. Dan is also a Specialist SMSF Advisor™. - Current at 06 December 2017
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Nathan Papson CTA
Nathan is a lawyer with DBA Lawyers. - Current at 01 June 2012
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