Superannuation

SMSF Succession Planning

SMSF Succession Planning

I recently read the case Ioppolo v Conti [2015] WASCA 45 with interest. This case addresses a number of issues which need to be taken into consideration when devising a succession plan for your SMSF. Facts of Ioppolo v Conti In summary the facts of Ioppolo v Conti are: Mr and Mrs Conti were the […]

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My loved one has passed away – how do I know if they had superannuation?

My loved one has passed away – how do I know if they had superannuation?

I recently received an enquiry from someone who was trying to deal with an Estate where the deceased had died without a Will. Among other enquiries as to how to deal with the Estate assets, the enquirer did not know how to find which fund held the deceased’s superannuation. How do I know if they […]

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Should I Lodge a Superannuation Death Benefit Claim?

Should I Lodge a Superannuation Death Benefit Claim?

I am often asked by clients for assistance with claiming a deceased relative’s superannuation monies. In most instances, a superannuation death benefit claim is lodged by the partner, child or next of kin of the deceased. Once a claim has been submitted, the Trustee of the superannuation fund will usually have the discretion to pay […]

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Objecting to a Superannuation Death Benefit Payment

Objecting to a Superannuation Death Benefit Payment

A client of mine was recently approached by his brother to sign a one page form which would allow the brother to receive his Deceased mother’s superannuation death benefit payment in full. The background is as follows: My client’s mother chose not to leave a binding death benefit nomination on her superannuation monies before she […]

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Interdependency and Superannuation Death Benefit Claims

Interdependency and Superannuation Death Benefit Claims

When lodging a superannuation death benefit claim, it is important that the material lodged provides information regarding the financial and non financial interdependency between the Deceased and the person claiming the Deceased’s superannuation monies (the “claimant”). Some of the considerations of a superannuation trustee or board when determining the level of interdependency include: The relationship […]

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Borrowing through your Super Fund – The Practical Side

Borrowing through your Super Fund – The Practical Side

OK, so you have a self-managed super fund (SMSF) and are comfortable using the cash in it to leverage into a loan to buy property. You know that the super rules allow this if a bare trust is set up as the buyer of the property. You have found a property and want to sign […]

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Binding Death Benefit Nominations For Superannuation

Binding Death Benefit Nominations For Superannuation

I was recently involved in a dispute regarding the payment of a Deceased member’s death benefit from a superannuation fund. It highlighted to me the importance of considering your Superannuation when undertaking your Estate Planning, and the consequences of not properly considering your Superannuation. FACTS In this matter: The Deceased had a substantial amount of […]

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