December 6, 2012 by stirling

1. Take care of the whole family

Family Superannuation Funds enable a family to each become members of the same fund, up to 4 members in total. This assists the family in estate planning, wealth creation and expense reduction.

By having family members and their superannuation assets in the one flexible superannuation fund that is purpose built for you and your family, it makes matters so much easier when considering your own needs and key matters such as where your money will go after your death.

2. Control and flexibility

Almost every aspect of a Family Superannuation Fund offers as much control and flexibility as you want. This control begins with the fund’s all-important Trust Deed that can be drafted to your exact specifications.

As trustee of your own fund, you have maximum flexibility in relation to fund investments, tax strategies and estate planning. We can provide administration, assistance in tailoring the fund’s investment strategy, strategic advice, compliance and accounting specifically for your Family Superannuation Fund.

3. Cost effective

While cost savings will generally not be a key driver of the decision to start a Family Superannuation Fund, there are potential savings compared to public offer superannuation funds. The extent of cost savings depends on the type of investments and size of capital in the fund.

Due to the set-up costs and annual fixed costs associated with Family Superannuation Funds, it is widely considered uneconomic to commence a fund with assets of less than about $200,000, (all members combined) unless of course you plan to make significant contributions, have specific needs or want to borrow in the fund. An ordinary superannuation fund can cost up to 2.30% of the individual funds balance or higher in some cases per annum.

4. Broad investment choice

Family Superannuation Funds offer almost limitless investment choice including the ownership of property. Compare that with your ordinary superannuation fund where investment choice is often limited to managed options. So long as the regulations (SIS Act) allow for the asset to be purchased.

5. Taxation efficiency

It is the taxation efficiency of Family Superannuation Funds that attract many, along with the ability to spread those benefits across family members within the fund.

6. A long term retirement structure

A Family Superannuation Fund has the added advantage that it can also pay a pension from the same fund. Many ordinary superannuation funds do not allow income streams to be paid from the same fund – instead they need to transfer out to another fund. Your fund can live on and transition wealth from your generation to the next.

7. Estate planning opportunities

For specifically tailored estate planning strategies, there are no superannuation funds that can match the flexibility that is possible within a Family Superannuation Fund. As already mentioned, estate planning is a key component of family needs and Family Superannuation Funds allow these needs to be specifically addressed.

Want to know more?  Make an appointment to see one of our Family Superannuation Fund experts.

Phone – 02 4261 5506 or

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