In this case a binding death benefit nomination was held to be invalid because it had not been given to the trustee, that is, not given to all the trustees of the fund. The court found that only one trustee had been given the nomination.
trustee
Replacing trustees and mental incapacity
If a trustee or a director of an SMSF loses mental capacity, appropriate actions need to be taken within 6 months in order to meet compliance requirements.
Townsend Lawyers is a leading independent law firm, specialising in commercial and business law, corporate advisory, tax, estate planning, superannuation, insurance, trusts and SMSFs.