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ARTICLE · 26 JULY 2016

Super and Estate Planning: Making the BDBN immune from challenge in an SMSF - part 2

Cooper Grace Ward
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Advisers must ensure that they have considered the issues relating to the superannuation death benefit if drafting a Will.

AustraliaFinance and Banking
Scott Hay-Bartlem
Scott Hay-Bartlem
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  1. CONTROL OF THE FUND AFTER DEATH
  2. Importance of who controls the fund

    8.1 The issue of the 'control' of the superannuation death benefit decision is deeply embedded in the minds of most estate practitioners.

    8.2 The importance of who controls the superannuation fund and has the discretion as to how the superannuation death benefit is paid was highlighted by the case of Katz v Grossman. 14

    In this case, Daniel Katz brought an action against his sister Linda Grossman and her husband Peter Grossman claiming an interest in their father's SMSF. The key facts of this case were as follows:

    1. The deceased and his late wife were individual trustees of their SMSF.
    2. The deceased's wife died in 1998 and the deceased appointed his daughter Linda as an additional trustee of the fund.

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