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2020 National Superannuation Webinar Series - Estate planning

Published on 03 Jun 2020 | Took place at Online, National

Estate and succession planning is an important consideration for Australians in an ageing population. Whilst binding death benefit nominations and payment of death benefits are often thought through in an estate plan involving SMSFs, what is often left out is the risk of an individual member losing capacity.

This session examined:

  • the definition of a self-managed superannuation fund – trustee requirements
  • dealing with issues of capacity of SMSF members and addressing incapacity in the fund deed or corporate trustee constitution
  • the necessity and use of enduring powers of attorney for members
  • addressing control at the SMSF trustee level on loss of capacity or under power of attorney
  • the transition of control during one’s lifetime on loss of capacity and subsequently on death: lessons from Dawson v Dawson [2019] NSWSC 826
  • death benefit payment issues and whether attorneys have power to make binding death benefit nominations: lessons from Re Narumon QSC 185.

Individual sessions

Estate planning

Author(s):  Nathan Yii

This paper covers:

  • definition of a self-managed superannuation fund
  • dealing with issues of capacity of SMSF members – addressing Control at the SMSF trustee level on loss of capacity or under power of attorney
  • the necessity and use of enduring powers of attorney for members
  • addressing incapacity in the SMSF’s governing rules or corporate trustee constitution
  • transition of control during one’s lifetime on loss of capacity and subsequently on death lessons from Dawson v Dawson [2019] NSWSC 826
  • death benefit payment issues and whether attorneys have power to make binding death benefit nominations: lessons from re Narumon QSC 185.

 

 

Materials from this session: