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.
SIS Act
Does a criminal record disqualify you as an SMSF trustee?
It is best for SMSF trustees to continuously maintain a clean record to keep their SMSF but getting a criminal record is not yet the end of the world.
What to consider when updating SMSF trust deed
If your trust deed was prepared quite some time ago, it may be time to update the governing rules of your SMSF trust deed. Doing so means that you can have peace of mind in knowing that the rules are current.
SMSFs transacting with former spouse, cousins or friends
A question we get from time to time is whether the trustee(s) of an SMSF can enter into transactions with a fund member’s former spouse whether the transaction is a loan, lease or another type. In this article, we will consider a number of compliance issues with SMSF transactions involving a former spouse.
SMSFs and binding death benefit nominations – where is your limit?
The superannuation environment may offer great tax efficiency in passing a member’s death benefits to their dependents, however there is a rider – the member will not have full control over how the benefits will be used by the beneficiary.
Reversionary pensions that don’t revert
What happens where, at the time of death of the pensioner, a reversionary pension fails to revert because the nominated reversionary pensioner (an SIS Act dependant) is not eligible to receive income stream death benefits, for example where the nominated reversionary pensioner is an adult child of the deceased member.
Choosing an investment structure to meet in-house asset rule
An SMSF investing with a related party must be careful not to breach the in-house asset rule.
Low interest rates prompting LRBA refinancing
SMSF trustees should not give into the siren call of low interest rate refinancing of their Fund’s loan until they have considered these points.