I am interested to have some forum-wisdom on SMSF Trust Deeds.
I am establishing my SMSF. As I have made ill-informed investment “decisions” in the past, I want to try and get this one right.
In the past month I have attended two public seminars and have had one-on-one sessions at Chan and Naylor (Syd) and with another highly profile SMSF “shop”.
Despite this time-intensive shoe-leather and web-surfing research, I am none the wiser – nor am I much better informed about the specifics of SMSF Trust Deeds.
It seems to me SMSF “shops” are selling a magic “Trust Us” “Trust Deed black box”.
I haven’t been able to get clear, concise information about the Trust Deed until I have handed over the cold hard cash. Only then will I be allowed to know what is in my Trust Deed – and if it isn’t right – then I will be allowed the benefit of paying extra $$$$ to have it modified.So – can anyone here give a good clear checklist of what should be in a SMSF Trust Deed?
Or can someone recommend a SMSF Trust Deed with reasons why TD “A” is better than TD “B” or TD “C”???
Where did you buy your TD? Online?
(Please DO NOT tell me to see my accountant – I dont have a tame accountant. I have someone that files my tax returns for me – but I have never been able to find that elusive magic beast “a good accountant”. )With several years of accumulation still ahead, I want a Trust Deed that allows me to do whatever I am legally allowed to do now and in the future. I want in-built flexibility of adjusting the TD to meet any future changes in legislation.
I may want to borrow to buy property. I want a TD that will assist with Estate and Succession Planning, that will accommodate any future JVs, (with another SMSF or with some other company, Trustee or individual)….. Basically I want to keep all and every avenue open to accommodate any changes in legislation and/or changes in my personal circumstances and investment preferences.
Comments/feedback/observations eagerly sought.
Hey there,
It sounds like you are starting to get a good idea of what it is that you want. I know a few people that I personally and professionally trust who might be able to help. At least a good chat on the phone with them may provide you with either insight, comfort or maybe even a solution. We review the trust deeds of accountants and other firms regularly and only use what we feel are the pick of the bunch for our clients. Let me know where you are located, I may know someone that can help in your area.
Cheers,
FS
Hi,
I am in Sydney.Anyone with 2c worth to add to this??
Anyone with a SMSF Trust Deed? What’s good – what is a must have?
any peals of wisdom from those further along the path?
Would much appreciate some comments
Have a look at this –
http://www.reckonespreon.com.au/SelfManagedSuperFunds/tabid/68/Default.aspx
hi Kuradji
I don't know that much about SMSFs myself, not having one. I had began to look into it, but it is so complex and fast changing it is hard to keep up.
I would recommend you do a lot more research before setting one up as you seem to be like me. You don't want to waste money setting one up to find it is no good.
for starters have a look at https://lawcentral.com.au/CreateDoc/PriceList.asp at the SMSF deeds and other documents. Sign up for free and go through the process of making a deed for free – and read all the tips along the way. Sign up for the newsletter too as almost every newsletter has further info on trusts. They are also constantly updating their deeds too. But I think you shouldn't buy it online, but use a good accountant to set it up for you. You will need someone to help you run it within the rules.
Also look at http://www.trustdeed.com.au too. They have some good strategies in their newsletters too. The principal behind it all has a long history in the SMSF business too.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks Shane NP and TerryW.
Will follow the links you have offered.Much appreciated.
K
Hi Kuradji,
I would suggest that you talk to this guy – he's fine for a quick chat on the phone about what you need, and he really is very good at what he does. You'll have to pay him to take things further, but you should be able to get a good feel over the phone if he is the right guy for you.
Property Tax Specialists
Barbara & Co cpa
phone 02 9411 8133
fax 02 9412 2833
mobile 0410 588 305
post: P.O.Box 665 Chatswood NSW 2057
office: Level 5 Suite 509, 71-73 Archer Street
Chatswood NSW 2067
website http://www.propertytaxspecialists.com.au
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