Superannuation has become a significant asset in the financial portfolio of the average Australian.
It has become a compulsory retirement savings system and is applicable to virtually the entire Australian workforce.
Even so, there are many aspects of Superannuation that can cause problems for the person making the contributions and those family members that stand to benefit from the payments made to the Super Fund by individuals and their Employers.
The Trust Deeds of a Super Fund can grant wide ranging powers to the Trustee of the Fund when the Trustee is faced with the decision of whom should receive death benefits. Unless a binding death benefit beneficiary notice is in place, the benefit can be paid to the dependant the Trustee deems to be the most appropriate
Trust Deeds of self managed funds need to be carefully structured in order to achieve long term financial results while meeting statutory requirements.
Our lawyers can guide you through the Superannuation maze, assist you in the establishment and legal issues of self managed funds and represent you with regard to any complaint directed to the Superannuation Complaints Tribunal concerning your contributions or the payment of death benefits.
If you need any assistance with this topic, please contact us.