One of the biggest challenges in an SMSF is what happens after death. Carrying out the deceased member’s wishes can be fraught with disaster, especially when there are trustee disputes and beneficiary claims.
Following the SIS rules and ensuring all fund documentation aligns with the legal requirements may be inconvenient upfront, but will save time, energy, and resources in the long run.
In this webinar, Shelley Banton, Head of Education at ASF Audits, will discuss how death impacts an SMSF by covering:
Trustee requirements on the death of a member
The definition of an SMSF
What happens when a member dies
The machinations of BDBNs and Reversionary Pensions
Death benefit lump sum payments
Conflict resolution via case law
Attendees will be able to participate in case studies to assist with a fast learning environment.
Recorded on 22 June 2023.
Presented by Shelley Banton
TPB CPD Hours: 1 hour
Legislated CPD Hours: 0.50 hours in technical competence | 0.50 hours in regulatory compliance and consumer protection