The Inconvenience of Death in an SMSF

Description

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.