Clients regularly ask whether when they die, they can give their superannuation to their grandchildren. The short answer is “no”. Superannuation death benefits can only be paid directly from your fund to your estate, your spouse, your children, people with whom you are in an interdependent relationship, or your financial dependents.
Townsends Law
Electronic signing of documents by companies
Covid-19 has caused considerable stress and misery but every cloud has a silver lining and that lining in the case of covid-19 may be the speedy development of a regime for permitting companies to sign documents using electronic means rather than the so-called ‘wet’ signatures of directors.
Can several entities jointly qualify to be a “sophisticated investor”?
A ‘sophisticated investor’ is a person certified by a “qualified accountant” to have a prescribed level of net assets or gross income.
ATO shoots itself in the foot: tax return must be signed by Administrator
The ATO refuses to accept a tax return from an intestate deceased estate unless it is signed by the Administrator of the estate. But what if there is no Administrator? Townsends’ Dominique Perry explains.
Lost deeds can destroy the trust
Trusts are most commonly established by a deed. Those deeds contain the terms or rules the control how the trust can be used, and the rights and duties the various parties to the trust have or owe. In our experience, trust deeds are regularly misplaced and lost.
A power of attorney doesn’t always have to endure
When giving someone a limited power to do something specific on your behalf, you may not want that power to continue for very long.
Managing an SMSF when dementia affects a member
John and Mary have an SMSF with a corporate trustee and are the current members of their SMSF. Mary is experiencing the early on-set symptoms of dementia and has an enduring power of attorney where she has appointed the NSW Trustee and Guardian to act as her attorney.
Paperless conveyancing in NSW
On 11 October 2021 the Registrar General of New South Wales went paperless with certificates of titles and dealings in accordance with its mandate of 100% eConveyancing.