- Presentations
- Death benefits
National Conference 2024
This session will explore why certain clients may benefit from estate planning solutions outside the scop of SMSFs, especially those facing potential family or estate disputes and those concerned with maximising tax benefits for the family unit. The session aims to identify clients who could benefit from redirecting assets from their SMSFs to alternative vehicles.
We will dissect the merits and limitations of various estate planning tools such as testamentary trusts, which potentially offer both tax efficiencies and greater control over benefit distribution, and investment bonds, which stand out for their dispute-resistant nature and possible tax benefits. Other alternatives such as relying on intestacy laws, using retail funds for certain pension arrangements or insolvent estates, and the straightforward approach of owning assets jointly will be critically assessed. We will provide you with a framework for considering estate plans that suit individual client needs beyond traditional SMSF arrangements.
Following this session you will be able to:
- Identify clients who may benefit from reducing the reliance on their SMSF as an estate planning vehicle.
- Understand and explain the advantages and disadvantages of different estate planning tools.
- Analyse the impact of tax legislation, such as the Division 296 tax and transfer balance cap issues, on estate planning decisions.
- Explore the practicalities and legal considerations of implementing alternative estate planning strategies.
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