Binding death benefit nominations

Binding death benefit nominations

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Recording

  • Expiry Date: 1 November 2020
  • Duration: 90 minutes

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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