SMSFs warned over incapacity planningBY BEN COLLINS | MONDAY, 18 FEB 2013 11:20AMOften the risks of a self-managed super fund director becoming incapacitated are ignored, a leading lawyer has warned. |
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Featured Profile
Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
With the work we are doing with accountants, we are making them aware of the need to refer their SMSF clients for additional advice that is required. Recent Legislation makes it mandatory for Trustees to ensure suitable insurance is in place, but the reality is, this is often overlooked. There have already been a number of legal actions involving Trustees where insufficient insurance was in place when events occurred. This sort of experience is something accountants would prefer not happen to their clients, hence the need to ensure the appropriate guidance is provided in respect to such additional advice.