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Family Law SuperSplitting Documents for SMSFs
By: Daniel Butler, Director, DBA Lawyers ([email protected])
DBA Lawyers, working in consultation with Australia’s leading SuperSplitting legal expert Stephen Bourke, prepares Family Law SuperSplitting documents for SMSFs.
We prepare a suite of draft documents based on the instructions for an SMSF member undertaking a superannuation split. The documents are tailored to the member’s circumstances and can cover a ‘base amount’ or a ‘percentage’ split in relation to an SMSF’s member’s interest in the same SMSF.
Naturally, other documents and services may be required in conjunction with an SMSF supersplit; we can also prepare related documents (see under heading ‘Other documents’ below), as well as providing advice and other assistance that might be needed. We can provide a fee estimate or quote before proceeding with any other advice or service.
The SuperSplitting documents are designed to be used where one of the following has been served on the trustee of the SMSF:
- a splitting order (a court order under the Family Law Act 1975 (Cth)); or
- a superannuation agreement (made by the parties each with independent legal advice, but having been separated for 12 months).
What’s included
- Detailed covering letter
- Trustee resolutions
- Payment split notice
- Relevant family law notices
- Other relevant forms including trustee forms as well as member and non-member spouse forms
The SuperSplitting documents are priced from $3,300 (softcopy) to document a split for one SMSF member (eg, to document one split for an SMSF member with their former spouse, whether the former spouse is or is not a member of the same SMSF, married, de facto or same sex).
While the documents do not propose to cover every option, they cover the most popular splits involving SMSF members. We can also provide expert advice and assistance in more complex and other SMSF-related assignments.
Please email [email protected] to order.
Important notes
Please note that the SuperSplitting documents are prepared in draft for execution with relevant commentary on completion.
We recommend that, due to the complex nature of the superannuation, legal, tax and related issues typically involved in supersplitting arrangements, the SuperSplitting documents should always be reviewed and executed with the input of the member’s family lawyer.
As you may be aware, legislation regulating legal practice in each State and Territory in Australia prohibits non-qualified persons from preparing documents affecting the legal rights of an individual for a fee unless they are a qualified legal practitioner in the relevant jurisdiction.
If you require DBA Lawyers’ assistance with any aspect, we would be pleased to assist. Please let us know. However, other assistance is charged at our usual hourly fee rates plus GST.
Other documents
SuperSplitting in an SMSF context will also typically result in a restructuring of the SMSF, eg, one member may roll their interest over to another SMSF. Death Benefit Nominations should also be changed after separation and/or divorce. Further, one spouse may cease to be a trustee/director/member, etc. DBA Lawyers can assist in documenting this restructure through our range of SMSF documents, including:
* * *
Note: DBA Lawyers hold SMSF CPD training at venues all around. For more details or to register, visit www.dbanetwork.com.au or call 03 9092 9400.
For more information regarding how DBA Lawyers can assist in your SMSF practice, visit www.dbalawyers.com.au.
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