Advising on superannuation, including self-managed super funds (SMSFs), is an integral part of wealth management and succession planning. The superannuation laws in Australia are compliance driven, and significant penalties and negative tax and other consequences can arise if you fail to follow the rules. Beck Legal adopts a holistic approach to superannuation law, which involves our superannuation lawyers liaising with our estates, lawyers and your professional advisers to ensure we achieve practical outcomes for you, without any unintended consequences.
Beck Legal’s commercial team provide a full suite of superannuation advice and services, including compliance and strategy, structuring and ATO published rulings and safe harbour provisions. Our services include:
- Preparation and review of limited recourse borrowing/loan documents that comply with the Superannuation Industry (Supervision) Act, so that your SMSF can borrow money;
- Advice in relation to investment and business structures, including arranging for your SMSF to acquire property that can then be leased on an arms-length basis to your business entity, and tailoring your lease to cover SMSF investment issues;
- Advice on how your SMSF can participate in property development syndicates and preparation of tailored unitholders agreements;
- Compliance with all aspects of the Superannuation Industry (Supervision) Act.
Superannuation and Succession Planning
For many individuals, superannuation is their most significant investment, which is why it is vital to ensure that if something happens to you, it is passed to your intended recipients. It is a common misconception that superannuation will simply be dealt with in accordance with the terms of a Will, and it is important to get expert advice to ensure your nest egg is protected.
Our superannuation experts can prepare Binding Death Benefit Nominations, which take away the superannuation trustee’s discretion as to who to pay your superannuation to upon your death. This provides you with more certainty than simply mentioning it in a Will whereby it could be contested along with the other assets in your Estate.
Working with your Advisers
Superannuation planning and compliance is a team sport, and our lawyers can connect with your other professional advisers including your accountant, financial planner, auditor and banker. This ensures that tailored advice is provided and agreed processes are successfully implemented so that you can get the most out of your superannuation.
Why Beck Legal?
Whether you’re looking to ensure that your superannuation is protected and goes to the intended recipients or you want to set up your SMSF and use it as part of your broader investment strategy, our experts have the knowledge and experience to assist you. We will ensure your intentions are carried out in a way that is legally compliant and will avoid any negative consequences for you and your SMSF in the future.
If you would like more information about superannuation law, get in touch today.