Home / SMSFs / SMSF estate planning / Legal case a lesson in proper SMSF admin and record keeping

Legal case a lesson in proper SMSF admin and record keeping

A recent court case, known as the Narumon case, demonstrates how important it is for self-managed super fund (SMSF) trustees to ensure their documentation is up-to-date, and that binding death benefit nominations are valid.

Power of attorney

The case involved the SMSF of one Mr Giles, deceased, and a company of which his second wife was a director. Prior to dying he lost capacity and his second wife assumed power of attorney.

“When he passed away, there were certain question marks about what to do with the fund,” explains Bryce Figot, special counsel with DBA Lawyers.

About the author

Related topics,

IMPORTANT: All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions. Comments provided by readers that may include information relating to tax, superannuation or other rules cannot be relied upon as advice. SuperGuide does not verify the information provided within comments from readers. Learn more

© Copyright SuperGuide 2008-25. Copyright for this guide belongs to SuperGuide Pty Ltd, and cannot be reproduced without express and specific consent. Learn more

Leave a Reply