Recorded Webinar: Steering a Rudderless Ship: Auditing SMSFs Following Member Death or Incapacity

What happens when a member dies or loses capacity? A number of complex and technical issues can arise and SMSF auditors must have an understanding of these rules. This session covers:

• Management and control - what does the trust deed say?
  • appointment of new directors on death
  • loss of capacity by directors
  • replacement of trustee
• Evidence of death and incapacity
• The BDBN in SMSFs - rules governing validity
• Reversionary pensions:
  • confirming validity
  • do you have the appropriate powers and paperwork?
  • conforming with the relevant timeframes
  • when does the pension cease?
• Treatment of life insurance proceeds