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How does an enduring power of attorney work with an SMSF?

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Manage episode 433076235 series 3420709
Content provided by Momentum Media. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Momentum Media or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Chris Hill, co-founder – legal at Inherit Australia, to dive into all of the issues and challenges that can arise when an enduring power of attorney and an SMSF collide.

Hill explains why SMSF professionals need to have discussions with their clients around incapacity and estate planning so they aren’t caught out when the time comes, particularly when they may not be aware that power of attorney can also come with SMSF trustee responsibilities.

Listen as they discuss:

  • The role of an enduring power of attorney in the context of the definition of a SMSF.
  • Why setting up a trusted professional as a “fund guardian” is an important consideration.
  • How the two roles can work together in the member’s best interests.
  continue reading

132 episodes

Artwork
iconShare
 
Manage episode 433076235 series 3420709
Content provided by Momentum Media. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Momentum Media or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Chris Hill, co-founder – legal at Inherit Australia, to dive into all of the issues and challenges that can arise when an enduring power of attorney and an SMSF collide.

Hill explains why SMSF professionals need to have discussions with their clients around incapacity and estate planning so they aren’t caught out when the time comes, particularly when they may not be aware that power of attorney can also come with SMSF trustee responsibilities.

Listen as they discuss:

  • The role of an enduring power of attorney in the context of the definition of a SMSF.
  • Why setting up a trusted professional as a “fund guardian” is an important consideration.
  • How the two roles can work together in the member’s best interests.
  continue reading

132 episodes

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