Your SMSF Legacy: Planning for the Next Generation
Self-Managed Super Funds (SMSFs) aren't just retirement vehicles – they're powerful wealth transfer tools that can benefit multiple generations. With proper succession planning, your SMSF can continue long after you're gone.
Key SMSF Succession Elements:
• Binding Death Benefit Nominations: Ensure your super benefits go exactly where you intend, without delays or disputes.
• Trustee Succession: Plan who will take over trustee responsibilities. This might be adult children, professional trustees, or a combination.
• Investment Strategy Continuity: Document your investment philosophy and strategy to guide future trustees.
Tax Advantages of SMSF Succession:
- Death benefits paid to adult children can be tax-free if taken as a lump sum
- Pension payments to spouses remain tax-free
- Capital gains tax relief may apply to assets held at the time of death
- Income earned by the fund remains tax-free in pension phase
Multi-Generational Benefits: A well-structured SMSF can serve your children and grandchildren for decades. Consider these strategies:
- Corporate Trustee Structure: Provides continuity and makes member changes easier
- Investment Property Holdings: Commercial or residential property can provide stable income for generations
- Share Portfolio Growth: Quality Australian and international shares can compound wealth over time
Real Example: One of our clients established an SMSF 20 years ago with $200,000. Today it's worth $1.8M and includes commercial property that houses their business. Their children are now members, learning investment management whilst building their own retirement wealth.
Professional Management: Our Wealth+ SMSF service handles all the complexity whilst you maintain control. From compliance to investment administration, we ensure your SMSF operates smoothly across generations.
Start Planning Today: SMSF succession planning takes time. The earlier you start, the more options you'll have and the smoother the transition will be.
Contact us at [email protected] or 02 9998 4200 to discuss how your wealth strategy can support both your financial goals and your life aspirations.
