Published on 08 Aug 12
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
When should clients use a binding death benefit nomination and what type should clients use? And when are reversionary pensions a better option?
This paper examines various options and gives practical guidance as to how you can help your clients make decisions that lead to safe, tax effective succession for their superannuation. It covers:
- Determining the best option for nominations
- How to draft and process nominations:
- formal requirements
- trustee issues
- Down the track issues with BDBNs:
- rogue trustees
- can the nomination be contested?
- Reversionary pensions in estate planning:
- how they work
- problems where pensioner is second spouse – loss of control of capital
- two pensions: one reversionary and one not
- Some case studies.
Current at 24 April 2012
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