Complete guide to SMSFs : planning for loss of capacity and death / Bryce Figot.

Sydney : CCH Australia, 2016.

1st edition

87479

Pensions -- Australia.

Financial management -- Australia.

Retirement income -- Australia.

Retirement income -- Law and legislation -- Australia.

Retirement income -- Planning -- Australia.

"The number of SMSF in Australia is growing continually, and there are increasing numbers of individuals with SMSFs approaching the age where loss of capacity or death is an increasingly relevant consideration. A comprehensive and practical guide to planning for the loss of capacity or death of a member of a self-managed superannuation fund, this title assists practitioners to assess each of their clients' SMSFs to identify problems that may arise and the practical steps that need to be taken to ensure any potential problems can be avoided or dealt with." - Publisher's website. "This is a work with a focus on a narrow area, but one where advisors will doubtlessly be called on to advise from time to time and given the continuing increase in number of self managed superannuation funds (SMSFs) which the author summarises in the first chapter, likely to be a growth area for professional advice. The author states that the goal of the publication is to combine ease of use, comprehensiveness on the topic of succession planning for self-managed superannuation funds, to function as practical guide and to be the most technically accurate and detailed guide in the area. The reviewer cannot comment on the last goal but the work succeeds in the first three goals. The book is structured by chapters divided into what the author identifies as the "11 key steps" in succession planning in relation to SMSFs, which follow a logical order commencing with identifying the relevant SMSF deeds and variations (and what to do in the event of difficulties), progressing through considering the share structure of a corporate trustee, steps such as obtaining enduring powers of attorney and making a will, and finishing with a guide on taxation, making binding death benefit nominations and instructing a lawyer to prepare ultimate instruments such as SMSF deeds, powers of attorney and wills. This provides a sensible framework for a busy practitioner to work through. Each chapter is well structured with heading and dot points that allow a reader to identify relevant sections at a glance and work them through. The author states that the intended audience is advisors in the industry (presumably financial advisors and accountants). However the technical completeness, reference to legislation and caselaw on various points, means the book is likely to also be useful to legal practitioners at least as a starting point for further research. It would also function as a very useful "ready reference" for locating relevant legislation and key cases. Being an approachable, technically competent and well organised work, it is recommended for legal practitioners as well as other advisors in the field." - Chris Curtis.

Includes an index (pages 171- 176) and Case Table (pages 163 - 165).

9780994586070

ix, 176 p. ; 25 cm