SMSF Online Updates - 21 Apr 2023 - single session

SMSF Online Update — Best practice for advisers handling binding death benefit nominations — 21 April 2023

 

In this session, William Fettes, Senior Associate of DBA Lawyers covers best practice for advisers handling binding death benefit nominations (BDBNs). There has been a raft of BDBN cases culminating in the High Court’s decision in Hill v Zuda [2022] HCA 21 broadly confirming that BDBNs for SMSFs are not reliant on reg 6.17A of the Superannuation Industry (Supervision) Regulations 1994 (Cth) and can last indefinitely. However, many advisers may not be handling their BDBN practices appropriately in view of recent developments which could expose them and their firm to unnecessary legal risks. This session is a must attend for advisers to get up to speed with where we are at with BDBNs. This webinar focuses on:

 

·         Practical guidance on drafting and the client process of obtaining valid instructions

·         Working through some examples of drafting a BDBN based on different popular scenarios

·         Execution and storage — the status of E-execution regarding BDBNs in view of Re Curtis [2022] VSC 621

·         Having an attorney or administrator involved in BDBNs?

 

In the update segment William covers:

 

• The latest on the Government’s $3M+ TSB tax on unrealised gains

·         And much more …

Presenter

William Fettes Senior Associate DBA Lawyers