Today the structure and management of self managed superannuation funds is an integral component of Effective Estate Plans. This is an area of expertise that sets Merthyr Law apart from other law firms. Merthyr Law Principal, Kieran Hoare, is an accredited SMSF Specialist Advisor™. His expertise has added another valuable dimension to the estate and succession planning offered at Merthyr Law.
Ten years ago, a clients’ most valuable single asset was typically their family home. Now, the lion’s share of clients’ wealth is held within their self managed superannuation fund (SMSF). The law with respect to superannuation seems to change so regularly that most clients aren’t sure what will happen with their superannuation after they die. A client’s Will, even one with testamentary trusts, might adequately deal with their family home and investments outside of superannuation, but often fails to adequately deal with their superannuation savings.
Merthyr Law offers the following SMSF solutions for clients:
- business real property advice;
- in house asset advice, including related trusts, Part 8 associates, loans;
- gearing in the superannuation environment including limited recourse loans, instalment warrants, instalment contracts, joint venture agreements, non related trusts and pre 1999 unit trusts and ensuring they can continue post 30-6-09;
- other SMSF investment structures such as non related trusts, non geared trusts;
- penalties;
- residency;
- general rules and framework of the SIS legislation;
- taxation within superannuation;
- succession planning and strategies within superannuation including binding death nominations, recontribution strategies and use of enduring powers of attorney;
- deed updates and reviews;
- responding to audits and ATO and auditors;
- strategies to pay out death benefits;
- related party transactions;
- in house assets;
- in specie distributions and contributions;
- helping overcome breaches and providing innovative solutions to audit problems;
- defending ATO actions against SMSF trustees;
- regularly presenting seminars on the above topics; and
- administration of SMSFs following the death of a member.
