Are you prepared for the death of a client?

  • Presentations, Technical Resource
  • Death benefits

National Conference 2024

Navigating the intricacies of SMSF management upon a member’s death is a daunting yet inevitable task. This session is designed to arm practitioners with the know-how to correctly administer death benefits while ensuring compliance with SMSF regulations. Practitioners will be guided through the labyrinth of legal requirements, documentation, and time-sensitive tasks that are imperative to handle in these sensitive situations. The session will cover vital aspects such as the proper allocation and payment of death benefits, the role and responsibilities of trustees, and the potential pitfalls and common errors to avoid.
 

Following this session you will be able to:

  • Gain a comprehensive understanding of the legal and regulatory requirements surrounding the administration of death benefits in an SMSF, ensuring full compliance and due diligence in these critical situations.
  • Master the roles and responsibilities of trustees in the event of a member’s death, including essential documentation, timely actions, and the strategic allocation of death benefits.
  • Learn to identify and avoid common pitfalls and errors in the management of SMSFs following a member’s death, enhancing your expertise and mitigating any litigation risk.

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain general advice only and are prepared without taking into account particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association