Death Benefit Nomination (binding & non-binding)

$165 (incl. GST)

ORDER NOW

or login if you are a member.

Create online, delivered instantly

Generate either a binding (including non-lapsing) or non-binding death benefit nomination (DBN) for a self-managed super fund member. Importantly, this DBN form has been developed as per Schedules 1 and 2 of the Smarter SMSF Deed.  As a result, you need to consider the specific requirements of the fund’s governing rules before preparing the document to ensure that the nomination is valid.

The following SMSF documents will be generated as part of the completed order:

  • Death Benefit Nomination (Binding or Non-binding)

A Sample document is available to view within the knowledge base. You can save this order to resume at any time and can review prior to submission.

Why you should use a Smarter Deed

The Smarter SMSF Deed has been built by SMSF specialists, Ian Glenister (Legal Officer, Smarter SMSF), Aaron Dunn (CEO, Smarter SMSF) and Chris Hill (Director, Hill Legal) for use by practitioners who need the confidence that comes with using best practice SMSF documents drafted by industry leading experts.

The Smarter Deed not only stays up-to-date with the latest superannuation laws, but also strategically considers topics impacting membership, contributions, income streams, estate planning and more.

 

Two-way seamless integration with Class

As a Class user you can save time by utilising your fund and member information to generate Death Benefit Nominations that follow the requirements of the Smarter SMSF Deed.  Once completed, you can send this updated information back into Class to update the death benefit information within Class.

 

Compliant and saving you time with SimpleFund 360

Save time in preparing each member’s Death Benefit Nomination by populating the existing fund and member information from Simple Fund 360 and generate documents that comply with the requirements of the Smarter SMSF Deed.  Once completed, you can simply push this document back into Simple Fund 360 to have your client execute and store online.

To start ordering, simply follow these steps:

  1. Sign up to the Smarter SMSF platform (it’s free).
  2. You will receive an email with your login details.
  3. Once logged into our platform, select ‘Documents > Create New’.
  4. Follow the prompts, review & submit your order.
  5. You’ll have the order instantly delivered to you in less than 5 mins.

How to videos

Order a Death Benefit Nomination

This video explains the process in ordering a death benefit nomination on the Smarter SMSF platform.

 

Need assistance?

If you require help with ordering your SMSF documents, get in contact with us via live chat, by telephone on 1300 95 94 76, email team@smartersmsf.com.

Become a Member & save

Document Packages

We recognise that practices come in all different shapes and sizes, and that’s why our Create document packages have been developed as a bundle to suit the size of your SMSF business. Our document packages start at $150 p/m for ANY 25 docs p/a and provide a substantial saving monthly.

To work out how many documents you might need for your business, try our document calculator that can help to determine the package that is right for you.

What types of death benefit nominations can be made under the Deed?

The following types of death benefit nominations can be made under the Smarter SMSF Deed as a written direction to the trustee(s):

  • A Non-Binding Death Benefit Nomination in the format as provided for in Schedule 1 of the Deed;
  • A Binding Death Benefit Nomination in the format as provided for in Schedule 2 of the Deed;
  • A Non-Lapsing Binding Death Benefit Nomination in the format as provided for in Schedule 2 of the Deed; or
  • A SMSF Will which is recognised in these governing rules as a non-lapsing binding death benefit nomination and non-lapsing directions once drafted and executed by the Member of the Fund and delivered to and accepted by the Trustee of the Fund.

Please note that the SMSF Will is not provided via the Smarter SMSF platform, however it can be drafted by our lawyers, Ian Glenister and Chris Hill.

Does the BDBN need a trustee minute to confirm acceptance and validate the nomination?

No, Rule 11.5 of the Smarter SMSF Deed provides for auto-acceptance of the death benefit nomination by the trustee(s) and are bound by the provisions of the nomination once it has been received, unless for any reason the trustee is not obliged to accept it due to superannuation laws (e.g. direction to non SIS dependant).

Can I appoint a replacement trustee in the event of the member's death?

Yes, Rule 2.9 of the Smarter SMSF Deed allows for the Member to nominate a replacement trustee/director as part of the binding death benefit nomination. Upon such party’s consent, they will be appointed as:

  • a Replacement Trustee of the Fund; or
  • director of the Corporate Trustee if permitted under the constitution of the Corporate Trustee

and for the purposes of this clause will prevail over any other potential appointment.

Death Benefit Nomination – Sample Document

To view a sample:

  • Sign up for free to gain access to our platform.
  • View sample documents from our Knowledge Center.
  • Order documents on a PAYG basis.

 

Other references

ATO – Death of a Member

Need expert support and reassurance? Have a look at our Smarter SMSF support package!