What is the name of the employer or other person establishing the Fund?

If an employer establishes the SMSF, then the SMSF will be an employer-sponsored SMSF. Primarily this means that, although the trustee is responsible for running the SMSF, certain administrative decisions made by the trustee will require the consent of the employer.

Alternatively, one of the persons who are to be members of the SMSF may establish the SMSF. This is merely a procedural role to get the SMSF up and running: that person has no further obligations operating the SMSF apart from those obligations it has a member, trustee or director of the trustee.

This is the primary 'client' responsible for creating the SMSF - and is recorded in the minutes at the time of establishment. There are no extra special rights or privileges attached to this person/entity

Cleardocs cannot give you any advice about this.The summary here is information only. It is provided by Maddocks.

What is the member's Tax File Number?

Remember, a member does not have to provide their Tax File Number — although if they don't provide it, they may pay more tax than the law requires.

Cleardocs cannot give you any advice about this.The summary here is information only. It is provided by Maddocks.

How does this member want to handle their death benefit payment arrangements?

You can read:

• an article discussing the uncertainty in the law about Death Benefit Nominations which makes Death Benefit Agreements attractive to members who want to bind the trustee as to how the member's death benefits are paid.
• about our Death Benefit Nomination form (binding or non binding).
• about our new Death Benefit Agreement — which is binding and lasts until the member revokes it or replaces it.

Call us for more information about these options

Cleardocs cannot give you any advice about this.The summary here is information only. It is provided by Maddocks.

Do you want the member's death benefit nomination in the previous question to bind the trustee?

When a Member dies, the SMSF may pay a death benefit. In the previous question about the Member's beneficiaries, you were able to add information about who the Member wants the Trustee to pay any benefit to. Now you need to choose whether the Trustee is bound by the Member's nomination or whether the Trustee is to have some discretion about who to pay.

If you answer 'Yes' to this question, then it makes the nomination a "binding death benefit nomination". This means that the trustee must pay any death benefit to the person the member nominates. However, the law says that a binding death benefit nomination lasts for only up to 3 years. (The member can update it or replace it in that time.) So if you use a binding death benefit nomination, you need to have the member consider whether to renew it at least every 3 years.

If you answer 'No' to this question, then the trustee can choose to pay any death benefit to someone other than the person the member nominated. This means the nomination is a "non-binding death benefit nomination". These nominations last until they are updated or replaced.

Cleardocs can not give you any advice about this. The summary here is information only.It is provided by Maddocks.

Who does the member wish to appoint as their beneficiary under the death benefit arrangement? Also, what proportion of the death benefit is that person to receive, and what is their relationship to the member? (Death Benefit Nomination Form Only)

Beneficiaries

A member's beneficiaries can be:

• their legal personal representative - that is, the executor/administrator of their estate. If member nominates the person who is their legal personal representative, then the relevant amount will be paid into the member's estate and distributed in accordance with their Will (subject to any claims against their estate); or
• their dependants. Your dependants are:
  a) your spouse (including de-facto);
  b) your children (including step, adopted or ex-nuptial children);
  c) any other person, who in the opinion of the Trustee, is or was at the date of your death wholly or partially financially dependent on you; and
  d) any person with whom you had an interdependency relationship at the time of your death. Generally, two people will have an interdependency relationship if:
  
  
  1. they have a close personal relationship; and
  2. they live together; and
  3. one or each of them provides the other with financial support; and
  4. one or each of them provides the other with domestic support and personal care.

Cleardocs cannot give you any advice about this.The summary here is information only. It is provided by Maddocks.

Who does the member wish to appoint as their beneficiary under the death benefit arrangement? Also, what proportion of the death benefit is that person to receive, and what is their relationship to the member? (Death Benefit Agreement Only)

Beneficiaries

A member's beneficiaries can be:

• their legal personal representative - that is, the executor/administrator of their estate. If in the Death Benefit Agreement the member directs the trustee(s) to pay the benefit to the person who is their legal personal representative, then the relevant amount will be paid into the member's estate and distributed in accordance with their Will (subject to any claims against their estate); or
• their dependants. Your dependants are:
  a) your spouse (including de-facto);
  b) your children (including step, adopted or ex-nuptial children);
  c) any other person, who in the opinion of the Trustee, is or was at the date of your death wholly or partially financially dependent on you; and
  d) any person with whom you had an interdependency relationship at the time of your death. Generally, two people will have an interdependency relationship if:
  
  
  1. they have a close personal relationship; and
  2. they live together; and
  3. one or each of them provides the other with financial support;and
  4. one or each of them provides the other with domestic support and personal care.

Cleardocs cannot give you any advice about this.The summary here is information only. It is provided by Maddocks.

Who will attend the meeting to establish the trust's investment strategy?

It is important that all the trustees, or directors of the trustee, attend the meeting.

Cleardocs cannot give you any advice about this.The summary here is information only. It is provided by Maddocks.

What is the name of the organisation that will be the Fund Accountant?

It is best if you can provide this information now, as it helps to create a complete set of minutes as the outset of the Fund, but if you really don't know this information, you can leave these blank and add at a later date.