Family SMSF & Estate PlanningFamily SMSF & Estate Planning

Protect those who are important to you with our Family SMSF & Estate Planning Services

A Family Self-Managed Super Fund (SMSF) is a special type of SMSF that enables families to transfer, contribute, protect, build, distribute and share their family and superannuation wealth – for generations to come. Lying alongside a Family SMSF Proceeds Trust and Testamentary Trust for estate planning purposes, as well as a Family Trust for a small business, they are all an integral part of the Family financial plan to manage and protect your financial future.

If it’s important to you, then it’s important to us

No matter your financial goals, if it’s important to you, then it’s just as important to us. Recent research of more than 10,000 SMSF members has revealed two overwhelming and important statistics:

  1. 99% of SMSF members believe that their family is one of the most important things in their life right now; and,
  2. When they pass away, more than 95% want their superannuation as well as other assets to pass to their bloodline only. We are passionate about building and developing strategies for Family SMSF’s and help you with all aspects of estate planning. When you have a SMSF you are better off than being in a retail or industry super fund for estate planning.
Our accountants and financial advisers can help you understand the ins and outs of Family SMSFs

We can help you arm yourself with strategies and ideas for getting your SMSF up to the level of Family SMSF. The Family SMSF provides for your family like no other structure out there. You can build your assets, protect your assets and keep the assets in the family.

We often get asked how is a Family SMSF different from most SMSFs. There are seven big differences, which to us, when properly used are game changers. See below:

Contact our Gold Coast office for more information

If you would like to learn more about how a Family SMSF can help secure your family’s financial future, contact our experienced team of advisors and accountants.

Other SMSFs have no plan on what will happen to their fund when the last member dies or becomes mentally incapacitated. A family legacy is potentially lost;

…irrespective of their age or when the member becomes sick, when the member becomes disabled, when the member wants to retire and when the member wants to work post age 60, but wants to supplement their wages and profits with super income. A Family SMSF can also provide income to a member’s spouse, children and grandchildren when the Family SMSF members die. Most SMSFs don’t have a plan to cater for all of these events and many don’t even have rules or allow the Trustee to provide these basic, family financial strategies;

…enabling family business owners to buy offices, factories, farms for use in their business while paying tax deductible, market value rent into their low taxed Family SMSF. SMSFs aren’t used by most accountants and advisors when considering Family wealth creation, tax planning and growth;

…under the four-member limit which is soon to expand to six members plus for many, restricted to bloodline members only. Each member has a say in controlling the fund but at the end of the day, the members can choose to allow those members with most monies to have the most votes. And with different generations in the Family SMSF, it is ideal to allow members to choose their own investments such as cash and top 50 shares for Mum and Dad taking a pension and an investment property for their son while the daughter uses her super to invest in her employer’s company and start-up investments, that is, each investment separate and quarantined from the other. How it plays out depends on the Family as each family is different;

An SMSF Will is like a normal will, a set of directions to the surviving Trustees of the Family SMSF dealing with a member’s superannuation benefits on their death. This may include providing incomes or lump sums, assets such as farms or property or any other distribution allowed under the super laws, flexible and secure as it uses Federal law, not State-based laws. But it goes further and can ensure the appointment of an Executor as Trustee of the Fund on the member’s death and that the Executor is the only Trustee that can deal with a deceased member’s benefits. Most SMSF’s have only a binding death benefit nomination which allows a percentage distribution of benefits only and as we have seen in many legal cases is not valid because the Trustee and their advisers botched the process, resulting in the member’s requests being denied, monies not paid to the estate and a whole lot worse;

We talked about sickness. If one of the younger adult members of the Fund is sick and off work, the Fund can pay them a salary, equal to their current salary for as long as they are off work. Most SMSFs don’t even think about the health and welfare of their members, it’s all about money, not family;

…and dementia is creeping into many families. Most SMSFs have no plan of action for mentally incapacitated members and in many cases, leaves them as Trustee of the Fund well beyond the time they should be removed, resulting in failed Trustee actions. Plus, there is always the problem that the next generation may take the money and run or spend it not as mum or dad with dementia would want it given that they are not in a position to care. A Family SMSF builds in SMSF Living Wills for its members where they can provide in a legal document a set of directions on what is to happen if they become mentally incapacitated. Directions such as who is to look after them, how much the career is to be paid, where they are to live and when to move into a home plus the style of home, how their funds are to be invested and much more. It is comprehensive, safe and secure and backed by Federal law.


“I have known Joe since 1997 and in that time, I have built my Super up to the point that I can retire very comfortably if I choose to. As a long-term advisor to myself, my Business’s and Superfund Joe has been there to help me make the right decisions to grow and protect my retirement nest egg.”