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SMSF Succession Planning Day (Face-To-Face)

On Wednesday 20 November 2019 DBA Network is holding a special, once-off SMSF Succession Planning Day (face-to-face). It will provide a practical, step-by-step guide on how to ensure that a member’s SMSF benefits are appropriately dealt with upon their incapacity or death. It is designed for financial planners, accountants, auditors, SMSF administrators and lawyers who want [read more]

Reversionary pension v BDBN: which one wins?

Reversionary pension v BDBN: which one wins?

By Bryce Figot, Special Counsel, DBA Lawyers and Daniel Butler, Director There is a misconception that reversionary pension documentation will always apply before a binding death benefit nomination. If the SMSF deed is silent on the question, it can be entirely possible at times that the binding death benefit nomination (‘BDBN’) will apply before any [read more]

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Reversionary pension vs BDBN: which outcome is preferred?

Daniel Butler ([email protected]), Director and Bryce Figot ([email protected]), Special Counsel, DBA Lawyers Imagine a conflict between pension documentation and a binding death benefit nomination (‘BDBN’) in a self managed superannuation fund (‘SMSF’) context. For example, the pension documentation states that the pension is reversionary to the surviving spouse; however, the BDBN states that the death benefits [read more]

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DBA Lawyers’ SMSF governing rules

Daniel Butler ([email protected]), Director, DBA Lawyers  Not only does DBA Lawyers have the best SMSF governing rules and related SMSF documents available, we offer many value added benefits that are not available elsewhere. Recent changes to DBA Lawyers’ SMSF governing rules The new and improved version of the DBA Lawyers’ SMSF governing rules come with [read more]

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Can a surviving spouse claim their deceased spouse’s super when they are also the executor of their estate?

Shaun Backhaus), Lawyer ([email protected]) and Daniel Butler, Director ([email protected]), DBA Lawyers  The recent case of Gonciarz v Bienias [2019] WASC 104 (‘Gonciarz’) continues a line of cases that consider the conflict that arises where a person acts as executor or administrator of a deceased estate while also applying to receive superannuation death benefits in their [read more]

The trustee–member rules explained: Part 2

By Kimberley Noah ([email protected]), Lawyer,and William Fettes ([email protected]), Senior Associate, DBA Lawyers The trustee–member rules set out in s 17A of the Superannuation Industry (Supervision) Act 1993 (Cth)(‘SISA’) must be satisfied on an ongoing basis by each self managed superannuation fund (‘SMSF’). Indeed, it is critical that advisers and SMSF trustees are mindful of these [read more]

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Reconciling inconsistencies between reversionary pension nominations and BDBNs

By William Fettes ([email protected]), Senior Associate and Daniel Butler ([email protected]), Director, DBA Lawyers Under the ATO view set out in TR 2013/5, a member’s pension ceases for tax law purposes on their death unless an eligible dependant is automatically entitled to receive the pension as a reversionary beneficiary. A nomination will broadly fail to satisfy [read more]

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Is an alternate director for an SMSF better than a successor director? Part 2

Daniel Butler ([email protected]), Director, DBA Lawyers We compare the option of a director nominating an alternate director in contrast to nominating a successor director in a self managed superannuation fund (‘SMSF’) context to determine which is better. In Part 1 of our series, we considered how alternate directors are problematic in an SMSF context. In [read more]