The SELG mascot's goal in life is to be able to provide you with some quick up to date information as a trustee of an SMSF, that will aid you in your role and also help you to comply with the SMSF's Laws which are constantly changing and being updated.
As I said above, the rules of your SMSF are a critical element to your compliance with the SMSF laws. Further, S55(3) permits anyone who has suffered loss, not just the SMSF members, to claim for any loss arising from a contravention of your SMSF rules. The possibility for claims by intended beneficiaries against the estate of people attempting to do things that do not comply with the SMSF rules...or against advisors poorly doing SMSF documents that do not comply with the SMSF rules and laws are boundless!
"Please learn from DinGo and the foolhardy who have gone before us and left great lessons to be learned from. Please don't be a do it yourself dimwit and seek advice from an accredited SMSF professional." - Shane
This is just a part of what wise and tax effective Family Estate Protection Planning including your SMSF estate is about. Want to ensure you are able to maximise the benefit payable to you upon retirement, or to your beneficiaries later on? Contact us today on (07) 5534 3900 or via email solutions@ellislaw.com.au and receive 50% off Super Session with Shane! In these 1 - 1.5 hour sessions Shane will review and help plan out your whole estate, from personal to SMSF and discuss strategies to minimise tax using the law.
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