Overview In today’s market, there are numerous options available for obtaining legal documents such as SMSF, company and trust deeds and related documents (Legal Documents). This article explores the advantages and disadvantages of sourcing documents from a non-legally qualified supplier (Non-Qualified Supplier) compared to a law firm. In this article, we aim to provide relevant [read more]
This article is part of a series on SMSF succession planning. In Part 2, we explored the important role of binding death benefit nominations (BDBNs). In Part 3, we examine tax considerations for superannuation death benefits, as well as planning options for arranging a timely payment of benefits to the member before their death. Income [read more]
This article is part of a series on SMSF succession planning. In Part 1, we explored the key elements of a robust SMSF succession plan with a particular focus on planning for loss of capacity or death. In Part 2, we focus on the important role of binding death benefit nominations (BDBNs). What is a [read more]
The High Court in Hill v Zuda held that ‘reg 6.17A has no application to an SMSF.’ Accordingly, SMSF deeds have a great deal of flexibility as to what they do and do not allow. If they are so drafted, SMSF deeds can allow BDBNs that can override any inconsistent pension documentation. This then begs the question: [read more]
This article is the first in a series on SMSF succession planning. In Part 1, we examine the key characteristics of a sound SMSF succession plan including in relation to planning for control of the fund to pass into trusted hands in the event of a member’s death or loss of capacity. Introduction For many [read more]
While DBA is recognised as Australia’s leading SMSF law firm, it is also well known for its trust law experience and trust documents. We believe that we offer an excellent discretionary trust deed that is easy to read, provides great flexibility and reflects the latest legal developments. As lawyers advising on discretionary trust issues and [read more]
Many advisers favour automatically reversionary pensions (ARPs) as a popular strategy for SMSF succession planning. Indeed, in recent times, ARPs have gained prominence and have often been seen as the default choice by many. For instance, some focus on the 12-month deferral of the transfer balance account (TBA) credit for the reversionary beneficiary, with the [read more]
Introduction This case note was prepared shortly after the Katz v Grossman decision was handed down in late 2005 and I have updated this newsfeed as it remains relevant today and is a great ‘war story’ for advisers. Indeed, there has been a great number of cases that have since added to our understanding in [read more]
Historically, deeds were required to be written on paper (or parchment or vellum), as well as being signed, sealed and delivered. Recently, however, there have been numerous legislative developments that allow for deeds to be executed electronically, subject to certain requirements. These requirements differ depending on the Australian state/territory’s laws the deed is subject to. [read more]
DBA Lawyers latest SMSF governing rules and related documents include many value-added features. This article briefly explains why our SMSF documents are the best available. Recent changes to DBA Lawyers’ SMSF governing rules Our latest DBA Lawyers’ SMSF governing rules (version 2024-25) comes with the following upgrades: enhanced wording to cater for Div 296 tax; [read more]
