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Is it time to update your SMSF Trust Deed?

The Trust Deed for an SMSF is the Fund’s most important document – it specifies all the rules which govern the operation of your fund. This means that even if an action is permitted by superannuation legislation, you still need to ensure it is permitted by your Trust Deed as well.

A robust, flexible and high-quality Trust Deed should be reviewed regularly to ensure your SMSF meets current legislation requirements, and that your deed is evolving as your SMSF does.

Five key reasons to update your SMSF Trust Deed today:

  1. Is your deed older than five years?
    Superannuation legislation is always evolving, and it’s likely that recent legislative changes are not reflected in your current deed.
  2. Gain greater control over the level of care an SMSF member receives in the event of incapacity
    Updating your deed to include an SMSF “living will” – will allow you to direct your benefits when a member loses capacity, allowing you to plan the level of care you wish to receive.
  3. Improve your estate planning, and establish greater control
    Older Trust Deeds required you to review your nominations every three years. You can now establish non-lapsing Binding Death Beneficiary Nominations, to give you the power to direct who receives the benefits in the event of an SMSF member’s death.
  4. Maximise your contributions through reserving strategies
    This can be an effective strategy to increase contributions to your fund – however to utilise this, you must first update your Trust Deed to allow reserve accounts.
  5. Are you considering retiring in the near future?
    Older Trust Deeds may require you to retire before you can access your benefits. If you haven't reviewed your deed recently, you may be able to update it to allow for Transition to Retirement Pensions.

How can Partners Wealth Group help?

Our experienced team will ensure that you receive a robust, flexible and easy to understand Trust Deed. We offer a quick turnaround time, guarantee compliance with current legislation requirements and cater to complex superannuation strategies.

For a limited time, we are offering this service for the competitive price of $395 including GST.

Contact Alex Swansson today on 0437 563 860 or aswansson@pwg.com.au

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