SMSF death benefit distributions: Lessons from Marsella v Wareham
Source: Taxation In Australia Journal Article
Published Date: 1 Apr 2020
Careful attention to succession planning for a self-managed superannuation fund (SMSF) can ensure a smooth transfer of wealth following the death of a member. A key part of the execution of any succession plan is the SMSF trustee(s). When the interests of the SMSF beneficiaries are not put first by the trustee(s), serious ramifications can result. The decision in Marsella v Wareham looked at both the actions of the trustees and the documentation (including correspondence between the parties) to assess
whether the trustees had indeed breached their fiduciary duties. This case highlights key lessons for SMSF trustees, members and advisers in the planning and execution of SMSF administration after the death of a member.
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Details
- Published By: Courtney van Zyl
- Published On:1 Apr 2020
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