Do I need an SMSF Trustee succession plan?

By |2024-03-17T22:00:53+11:0017/03/2024|Categories: Blog, Estate Planning, SMSF|Tags: , , |

Creating a robust SMSF trustee succession plan is critical for Self-Managed Super Funds (SMSFs) managed by aging trustees. An effective succession plan ensures the smooth transition of control and management of the SMSF when the original trustees are no longer able or willing to manage the fund due to age, health, or other reasons. A trustee succession plan must encompass preparation, clear communication, and legal compliance. Understanding SMSF Trustee Succession SMSF trustee succession plan involves preparing for the future management of the SMSF, ensuring it continues to operate effectively and complies with Superannuation Industry (Supervision) Act 1993 (SIS Act) requirements. [...] READ MORE

SMSF for Property development ventures and your SMSF

By |2024-02-13T17:31:03+11:0030/01/2024|Categories: Blog, Estate Planning, SMSF|Tags: , |

SMSF for Property development undertaken by an SMSF can be undertaken. We however strongly recommend seeking advice.ATO has issued a warning about relates to the use of SMSFs to invest in property development in a manner that inflates the profits earned by the SMFSs when compared to the capital the SMSF commits to the venture. Can my SMSF invest in a property development? An SMSF can as part of its investment strategy invest in property ventures. This is provided the investments are entered into on a genuine arm’s-length basis. As trustees, you should document your strategy including a risk analysis [...] READ MORE

Understanding Superannuation Death Benefits

By |2024-02-19T13:02:41+11:0012/11/2023|Categories: Estate Planning, SMSF, Taxation|Tags: , , |

Superannuation Death benefits are an estate planning matter that is a crucial aspect of financial planning.It is essential to consider what happens to superannuation upon death.Understanding the intricate system of superannuation death benefits is essential for effective financial planning and ensuring that your loved ones are taken care of. When a superannuation member dies, the remaining balance in their super fund and any associated insurance payouts are generally paid out as a superannuation death benefit. This benefit is intended to provide financial support to the deceased member's beneficiaries, including their spouse or partner, children, or other dependents. However, the distribution [...] READ MORE

Can I Live in SMSF Residential Property upon Retirement?

By |2023-11-20T16:46:31+11:0008/10/2023|Categories: Blog|Tags: , |

Can you live in SMSF residential property held by your Fund?" No not directly, but follow the rules at retirement, and it may be possible. As you retire, retirement planning opens up opportunities for living and the next stage for your SMSF, your lifestyle and your needs. An SMSF is established for the sole purpose of meeting your retirement objectives. And this is the overal objective of holding any assets in the Fund! Retirement planning involves planning and managing your assets into the senior years of your life. Opportunities arise as clients look at the strategies such as the downsized [...] READ MORE

Estate Planning and SMSF : Leveraging the Power of SMSF

By |2024-02-19T15:17:18+11:0029/04/2023|Categories: Blog, Estate Planning|Tags: , |

Estate planning and SMSF can play a large role when it comes to Estate planning, which is an often-overlooked aspect of financial planning when executing your Will, superannuation, and wishes. Estate planning determines how your assets will be distributed once you pass away. However, estate planning can be complicated and overwhelming, which is why Self-Managed Super Funds (SMSFs) have become popular. SMSFs are a powerful tool for estate planning and managing your retirement savings.Whether you're new to estate planning or simply looking for a more efficient way to manage your assets, leveraging the power of SMSF can help you achieve [...] READ MORE

Is an SMSF setup right for you?

By |2024-02-19T15:54:04+11:0021/02/2023|Categories: Blog, SMSF|Tags: , , , |

Deciding to implement an SMSF setup is something that needs a plan if undertaken.We are observing that our clients are taking the opportunity to review their Superannuation and retirement goals, The markets are changing, and people are beginning to plan for their retirement strategy. We are receiving several questions from clients asking whether, given the current market fluctuations of their investment in the superannuation, it is a great time to take charge of your own Superannuation. Some are evaluating if it is a great time to take control by setting up a new Self-Managed Superfund, commonly known as an SMSF. [...] READ MORE

Acting as an SMSF Trustee and incapacity!

By |2024-09-28T14:42:04+10:0015/04/2022|Categories: Estate Planning, SMSF|Tags: , , |

SMSF Trustee role needs to be considered in your Estate planning Acting as a SMSF Trustee and incapacity are crucial issues to consider in running an SMSF. Have you considered what happens when something goes wrong, and you  in a position to run your SMSF? Control is one of the main reasons many establish an SMSF. As an SMSF Trustee, you can control your own SMSF. You as the SMSF Trustee and member can control how the Funds' investments and the strategy on how and where. What happens if you can't do it anymore? What happens if things go [...] READ MORE

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