We have seen ASIC recently fire a warning shot across the bow of professionals regarding the appropriate completion of binding death benefit nominations for their clients (http://bit.ly/asic-dbn). This media release by ASIC highlighted the importance of a carefully constructed death benefit nomination.
In this week's episode 30, Aaron discusses the topic of death benefit nominations to raise the point that they are all not the same, in particular when it comes to SMSFs. Understanding the fund's governing rules and process required for a DBN to be valid is critical to ensure the most appropriate and effective way of distributing death benefits. He is joined by Chris Hill, Lawyer and SMSF Specialist from Hill Legal to discuss the issues raised by ASIC with DBNs, how this translates for SMSFs and what practitioners need to focus on with their deeds and DBNs as a result of the super reforms.
Episode 44 - The great pension squeeze
Episode 43 - How the SMSF sector continues to evolve
Episode 42 - why real change is important in the SMSF sector
Episode 41 - Our tech stack
Episode 40 - Changes to 2018 SMSF Annual Return
Episode 39 - Future of SMSF - insights into the sector today
Episode 38 - Class Benchmark Report - March 2018
Episode 37 - opportunities with the downsizer contribution rules
Episode 36 - It's TBAR time...
Episode 35 - Superannuation and the Federal Budget 2018-19
Episode 34 - Labor's policy to remove imputation credit refunds
Episode 33 - Do pension SMSFs match their stereotype?
Episode 32 - My takeaways from the SMSF Association National Conference 2018
Episode 31 - Living your brand in a smarter way
Episode 29 - Documenting decisions in taking more than the minimum pension
Episode 28 - 8 things to focus on in 2018
Episode 27 - Impact of changes to partial commutations
Episode 26 - CGT Relief: Segregated method and adopting the proportionate approach
Episode 25 - Insights from the Class SMSF Benchmark Report - September 2017
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