Recorded Webinar: Challenging SMSF Trustee Discretion In Death Benefit Payments

What is better for paying out death benefits in a SMSF - a BDBN or trustee discretion? With BDBNs continuing to be a source of confusion and error, trustee discretion has surged in popularity. However, recent cases have highlighted the perils of trustee discretionary determinations for super death benefits. This session examines the key issues involving trustee discretion, including:

• What is acting in good faith and real and genuine consideration?

• Taking account of the intention of the deceased

• Assessing relationship of deceased and dependents and their financial position

• Risks of failing to acknowledge a potential conflict or seek relevant advice

• Inferences that can and cannot be made with eligible recipients

• Duty of trustee to avoid a conflict of interest

• Obligation of trustee to give reasons for exercise of discretion

• Are binding death benefit nominations the answer?

• Case report - Re Marsella: Marsella v Wareham