Appeal fails in Marsella case

Background In March 2019 we reported on the Victorian case of Marsella[1] in relation to the exercise of discretion to choose a death benefit beneficiary by a trustee of a self-managed super fund (SMSF). That case was remarkable because it was the first case where a disappointed beneficiary of a deceased [...]

2020-05-19T08:22:49+10:00May 19th, 2020|

Will the role of an attorney appointed to act as trustee of an SMSF automatically cease on the member’s death?

Introduction In the absence of a binding death benefit nomination (BDBN), it is the trustee of a superannuation fund who has the discretion as to payment of a deceased member's death benefit. It follows from this, that control of the trustee (whether the trustee be the individual members or a corporate [...]

2019-11-08T09:39:23+10:00November 7th, 2019|

Re Marsella: the exercise of discretion by a trustee in paying benefits from an SMSF

Re Marsella: Marsella -v- Wareham (No 2) [2019] VSC 65 On the death of a member of a self-managed super fund (SMSF), that deceased member has a death benefit which needs to be paid. When there is no binding nomination in place, the trustee of the SMSF generally (read the deed…) has discretion [...]

2019-03-21T09:20:06+10:00March 21st, 2019|