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 NALI & NALE
 
 Dealing with death benefits and tax effective SMSF succession planning
 
 Employee share schemes and SMSFs
 




Binding death benefit nominations

Binding death benefit nominations

All delegates must be registered to be able to see training and to be eligible to receive CPD hours and not to breach copyright law.





 1 INTRODUCTION
2 BDBNS — LEGAL PRINCIPLES
2.1 Overview
2.2 Legislative basis for BDBNs  
2.3 The law of trusts and wills
2.4 Trust law basis for BDBNs  
2.5 BDBNs prior to mid-1999  
2.6 BDBNs from mid-1999  
2.7 SISR 6.17A requirements
2.8 SMSF deed
2.9 SMSF deed history review  
2.10 SMSF deed providers
2.11 Check the SMSF deed  
2.12 Other considerations — BDBNs  
2.13 Can an attorney (with an EPoA) make BDBN?
2.14 Financial Services Regime  
2.15 Reading .
3 PRACTICAL ASPECTS OF BDBNS  
3.1 Check all documents
3.2 Who receives death benefit?  
3.3 Drafting a BDBN
3.4 Disclaiming a benefit under a BDBN
3.5 Seeking court directions
3.6 Hard-wired deeds  
3.7 Can a death benefit be rolled over?  
3.8 SMSF — trustee/member rules on death  
3.9 Voting control and family dynamics
3.10 Formal requirements
3.11 Privacy and BDBNs
3.12 Limitations in deed  
3.13 Revoking a BDBN
3.14 Family law and separation
3.15 Reading
4 TYPES OF DEATH BENEFITS
4.1 Form of benefit  
4.2 Pensions paid to children  
4.3 Factors for trustee to consider  
4.4 What if a reversionary nomination and BDBN are inconsistent?
4.5 The dependants or the LPR (estate)?
4.6 Reading  
5 CASE LAW RELEVANT TO BDBNS
5.1 Appointing a corporate trustee and a BDBN greatly assists — Katz v Grossman  
5.2 The nomination must be binding and not a mere wish — Donovan v Donovan  
5.3 The second spouse disputed the BDBN — Wooster v Morris
5.4 Who represents the deceased as trustee/director — Ioppolo & Hesford v Conti  
5.5 Another BDBN fails due to poor SMSF documents — Munro v Munro
5.6 The BDBN must comply with the deed — Re Australian Motors SA Pty Ltd Staff
Superannuation Fund and Munro v Munro
5.7 Many think they have a valid BDBN when they actually don’t
5.8 Reading
6 BDBN—QC PROCEDURES
6.1 Introduction
6.2 Prior planning
6.3 Checklist of issues
6.4 SMSF Deed
6.5 Does the SMSF have a corporate trustee?
6.6 Who is to receive the deceased member’s benefit?
6.7 Payment of the benefit
6.8 Complete the BDBN
6.9 Storage
6.10 Review of BDBN




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