Ageing SMSF trustees should consider Succession Planning

There is a distinct number of SMSF trustees moving on to their 80’s and most are contemplating on an exit strategy. This is not necessary, according to William Buck wealth advisory group head Chris Kennedy, as there is another option called Succession Planning.

When SMSF trustees fail to perform their duties and responsibilities or lose interest in managing their funds, they have the option of handing over the decision making responsibilities to a corporate trustee, or revert it to a retail fund.

Read more about this on the SMSF Essentials website.