Superannuation, Succession & Retirement

Practice area

Superannuation, Succession & Retirement

Articles, case notes and commentary from the Mullane & Lindsay team.

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Costs - who pays when each party has some success

The Supreme Court recently issued a cost decision that grapples with an issue that occasionally arises once litigation is finalised.  That is, if there are several issues in dispute in…
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When Customary Law meets Succession Law

In Re Estate Jerrard, deceased [2018] NSWSC 781 an indigenous young man died in a motor accident without a Will and with no spouse or children.  Superannuation death benefits were payable into…
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Superannuation….. Who gets it when I die?

It comes as a surprise to many people to learn that they do not own their superannuation and therefore cannot include their superannuation as an asset to be disposed of…
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The aging process -legal mental capacity

In Re Estates Croft, deceased [2018] NSWSC 1303 a couple with 6 children, made last Wills which favoured certain children rather than each other.  This led to some children receiving more of the…
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Superannuation benefits - a trap for executors

Some years ago, I was involved in some litigation that arose when a man died leaving superannuation entitlements (but without nominating an intended recipient) and had nominated his partner as…
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Inherited Shares……. Keep or Sell?

It is not unusual for the assets in an estate to include shares in companies listed on the Australian Stock Exchange.  If those shares were purchased by the deceased after…
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Blended Families and Self-Managed Superannuation Funds

A Self -Managed Superannuation Fund must comply with the law or risk significant tax consequences.  Section 17A (3) Superannuation Industry (Supervision) Act 1993 (Cth) (SIS Act) provides that a legal personal representative…
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A template for splitting superannuation- what a super idea!

In April 2019, the Australian Law Reform Commission released its final report: “Family Law for the Future”.   Recommendation 17 is that the Family Law Act should be amended to simplify…
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Super Splitting and COVID-19

A property settlement between estranged husbands, wives and de facto spouses can only be the subject of court orders if it is determined to be a just and equitable settlement.…
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Superannuation Split - COVID 19 & the Operative Time

Property settlements that included provision for a superannuation split may have been negotiated and filed for orders, pre COVID 19. Some parties to those settlements have been anxiously watching their…
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Bankrupt Beneficiary - Who gets the money?

When an individual becomes bankrupt, subject to any contrary provision of the Bankruptcy Act, 1966, the assets of the bankrupt vest in the trustee in bankruptcy.  Those assets are then used…
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It’s super, if you can claim it!

It is now much more likely that when someone dies they will still be a member of a superannuation fund.  Family members often find struggling with their loss and making…
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FY 20/21 - SMSF Contributions

It’s a new financial year, so it is time to understand the superannuation contributions for self-managed superannuation funds. The concessional contributions (CC) include: Compulsory employer contributionsSalary sacrifice contributionsPersonal tax deductible…
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Increase in penalties for breach of SMSF Trustee Obligations

SMSFs account for 99.7% of all super funds in Australia and collectively hold 26% of the $2.9 trillion in super assets under management. There are 1.125 million Australians in nearly…
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Enduring Power of Attorney - conditional or unconditional?

The standard Enduring Power of Attorney (“EPOA”) provides that it is effective immediately after it is signed by both the appointor and the appointed attorney.  However, it is open to…
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What if someone does not have legal capacity?

Generally, when people separate following the breakdown of a relationship, each party will seek independent legal advice to negotiate a settlement or to commence Court proceedings. However, from time to…

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