Search
Close this search box.
(07) 3231 2444
Search
Close this search box.
21 June 2022

So binding death benefit nominations in self-managed superannuation funds are safe – or are they?

The High Court has decided that BDBNs in SMSFs do not need to comply with the technical requirements in the superannuation regulations, but is that the end of it?

The High Court has decided that BDBNs in SMSFs do not need to comply with the technical requirements in the superannuation regulations, but is that the end of it?

There are still many risks with BDBNs, and they can still be challenged and go wrong in many ways, including where:

  • the BDBNs:
    • do not work in with the estate planning
    • are inconsistent with reversionary nominations on pensions
    • do not comply with trust deed provisions
    • do not contemplate different alternatives and fall backs properly
    • are not clearly drafted
  • the SMSF trust deed requires the BDBN to comply with the superannuation regulations
  • there are alternatives that would work better.

Now is a good time to review BDBNs to ensure they validly deal with the superannuation death benefits in SMSFs.

Join our webinar on 23 June 2022 where we explore this further, or contact a member of our team.

Like this article? Share it via:

This publication is for information only and is not legal advice. You should obtain advice that is specific to your circumstances and not rely on this publication as legal advice. If there are any issues you would like us to advise you on arising from this publication, please let us know.

Stay up to date with CGW

Subscribe to our interest lists to receive legal alerts, articles, event invitations and offers.

Key contacts

Scott-Hay-Bartlem2017.jpg
Scott Hay-Bartlem
Partner
Clinton-Jackson-2
Clinton Jackson
Partner
Hayley-Mitchell-headshot
Hayley Mitchell
Partner
Steven-Jell-1
Steven Jell
Special Counsel

Areas of expertise

Read next