{"id":1367,"date":"2010-09-23T00:55:22","date_gmt":"2010-09-23T00:55:22","guid":{"rendered":"http:\/\/www.dbalawyers.com.au\/wp\/?page_id=1367"},"modified":"2012-06-13T23:30:06","modified_gmt":"2012-06-13T23:30:06","slug":"why-choose-a-dba-fund","status":"publish","type":"page","link":"https:\/\/www.dbalawyers.com.au\/why-choose-a-dba-fund\/","title":{"rendered":"Why Choose a DBA Fund?"},"content":{"rendered":"

DBA is recognised as one of the leading law firms offering SMSF deeds and related services throughout Australia. Below is a brief summary of the advantages of DBA’s SMSF deed package:
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DBA<\/th>Other Deed Suppliers<\/th>\n<\/tr>\n<\/thead>\n
SMSFs, taxation and succession planning is DBA\u2019s core business. Each SMSF is checked by a lawyer and DBA\u2019s documents are prepared by experts. DBA is one of the largest SMSF law firms in Australia dealing with SMSF issues on an ongoing basis. DBA documents are subject to regular review and revision by our taxation & superannuation lawyers. The deed also undergoes external lawyer review every year.<\/td>Other suppliers, typically shelf company suppliers, use lawyers without much experience in SMSFs, let alone tax and succession planning, to review their deeds every couple of years. They may claim they have a template deed from a lawyer which often has been varied without any lawyer sign-off. Invariably the deeds are put together by clerical staff without any significant lawyer review. These suppliers generally only supply documents and do not offer advice or technical support.<\/td>\n<\/tr>\n
DBA prepares each deed with the client\u2019s personalised details from its latest precedent, which is revised on a regular basis. The deed is very flexible and comes with a range of related documents, including a comprehensive PDS<\/a>.<\/td>Other suppliers typically use an old deed (reviewed some years ago) and attach only a schedule with client details. Many other suppliers do not even provide a PDS<\/a> or other practical forms. An SMSF can suffer substantial penalties unless it issues a PDS<\/a>.<\/td>\n<\/tr>\n
DBA offers flexibility to provide a mix of benefits including a lump sum, a pension ('income stream'), disability (temporary and permanent) and range of other benefits. DBA\u2019s deed allows members to take a mixture of this range of benefits, say, for instance, a member may want a 50% lump sum and 50% allocated pension benefit.<\/td>Some deeds only allow a lump sum or a pension benefit but not both. Many deeds that allow both a lump sum and pension benefit probably do not allow a mixture. Some deeds have pensions that do not comply with current legislation or have limited flexibility as they may not allow, eg, a reversionary pension upon death or internal roll-overs.<\/td>\n<\/tr>\n
DBA\u2019s Binding Death Benefit Nomination ('BDBN') can last indefinitely and can be drafted to provide considerable certainty. We have expert lawyers in superannuation and estate planning who can prepare a BDBN, Will and estate plan in view of the client\u2019s particular circumstances. Preparing a BDBN without regard to the consequences for the member\u2019s Will and estate plan can give rise to risks.<\/td>Most other SMSF deeds only allow a BDBN to last for a maximum of three years at which time they automatically expire. Furthermore, these deeds also require ongoing annual administration and reporting for the BDBN to remain compliant. DBA is also aware of a number of suppliers' BDBN powers that are so vague that they are void for uncertainty.<\/td>\n<\/tr>\n
There are potentially numerous inaccurate or risky instructions received in setting up a SMSF. DBA provides feedback if it detects any issues. Obtaining proper instructions is critical to the proper establishment of any SMSF.<\/td>Deeds are generally prepared on the basis of instructions provided (rubbish in \u2013 rubbish out!). Unless the deed supplier has skilled lawyers, serious penalties can be imposed, eg, if the trustee-member rules are breached. There are many risks with varying an SMSF deed unless lawyers with superannuation expertise are used.<\/td>\n<\/tr>\n
DBA provides SMSF, tax, business and succession planning services and training. DBA is able to deliver this service at a competitive cost as it is the leading SMSF law firm in Australia.<\/td>The law in relation to SMSFs is now such a complex and continually changing field that accessing documents or services from a supplier who does not have the requisite expertise is dangerous. Other suppliers invariably compete on cost and sacrifice quality and service.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

DBA’s Quality Control and Continual Improvement<\/h2>\n

DBA is committed to providing superior service and quality presentation. Our products are reviewed to keep up to date with ongoing changes to the law.<\/p>\n

DBA has numerous QC checks in preparation of its documentation, including:<\/p>\n