Complete Self-Managed Super Fund. (SMSF) Legal Documentation & Services Guide

Transcription

1 ++ Murfett Legal provides the complete suite of advice and documentation for Self Managed Superannuation Funds. All documents are prepared by Murfett Legal s lawyers and are not simply generic internet-based templates. WORK PRICE GUIDE 1. Establish New SMSF 2. Superannuation Deed Update 3. Establish Company (special purpose company and normal company) 4. Limited Recourse Borrowing Arrangement Related Party Lender 5. Limited Recourse Loan Arrangement External Bank Lender 6. Purchase of Real Property and Limited Recourse Borrowing Arrangement- Related Party Lender 7. Vesting Real Property from Family Trust to Beneficiary 8. Contributing Property from Member to SMSF 9. Vesting and Contribution (two stage process) 10. Vesting, Sale to SMSF and Limited Recourse Borrowing Arrangement Related Party Lender (three stage process) 11. Vesting and Sale to SMSF and Limited Recourse Borrowing Arrangement External Bank Lender ( three stage process) Additional Services 12. Prepare Mortgage or charge over Asset held by Custodian, for a Related Party Lender 13. Prepare Mortgage or Charge for general (non-bank) lender 14. Drafting commercial lease for SMSF 15. Update Company Constitution (replace Memorandum and Articles) 16. Binding Death Benefit Agreements and Nominations (as part of Succession Planning) 17. Conveyancing (Settlement Agent) fees 18. Lawyer s Certificate of Advice to Custodian and guarantors on a Limited Recourse Borrowing Arrangement Page 1 of 5

2 1. Establish New SMSF Deed to Establish the Fund (2 Copies) Resolutions of Trustee(s) Initial Certificates and membership applications Product Disclosure Statement 2. Superannuation Deed Update Deed of Variation attaching new rules of the Fund (2 Copies) Notice to Members Resolutions of Trustee(s) Product Disclosure Statement 3. Establish Company (normal company and special purpose company) i.e. for the role of Custodian in a Limited Recourse Borrowing Arrangement or corporate trustee of SMSF Constitution (2 copies) Folder with all consents, minutes, share applications, registers, journals, etc. Bank copy ASIC fee 4. Limited Recourse Borrowing Arrangement Related Party Lender Explanations, initial review existing SMSF documentation to ensure power for LRBA exists Superannuation Deed Update - see item 2 Establish Special Purpose Company - see item 3 Deed to Establish Custodian Trust to hold the asset Limited Recourse Loan Documentation between Related Lender and SMSF Resolutions of Trustee(s) of SMSF Resolutions of Trustee of Custodian 1 hour of liaison with Settlement Agent / Accountants/ Financier to ensure asset and general compliance and favourable duty assessment NB: Please contact us before signing any offer Not included: Additional liaison with other parties Transfer of Land and conveyancing Security for the loan Page 2 of 5

3 5. Limited Recourse Loan Arrangement External Bank Lender initial review existing SMSF documentation to ensure power for LRBA exists Superannuation Deed Update - see item 2 Establish Special Purpose Company - see item 3 Deed to Establish Custodian Trust to hold the asset Minutes Explanations to clients 2 hours of liaison with Settlement Agent / Accountants/ Bank to ensure compliance and favourable duty assessment NB: Please contact us before signing any offer Not included (see below): Additional liaison with other parties Transfer of Land and Conveyancing 6. Purchase of Real Property and Limited Recourse Borrowing Arrangement- Related Party Lender Limited Recourse Borrowing Arrangement Related Party Lender -see item 4 Prepare Offer & Acceptance and any special conditions 7. Vesting Real Property from Family Trust to Beneficiary Update of Family Trust Deed Prepare Deed of Partial Vesting to Beneficiary, including Transfer of Land to individuals Liaising with Office of State Revenue for duty assessment Lodgement with Landgate Page 3 of 5

4 8. Contributing Property from Member to SMSF Ascertain Property Transfer complies with superannuation legislation Review SMSF Deed to ensure vesting of capital permitted Superannuation Deed Update -see item 2 Prepare Deed and Declaration of Trust, including Transfer of Land to SMSF trustee Liaising with Office of State Revenue for duty assessment Lodgement with Landgate 9. Vesting and Contribution, two stage process Vesting Property from Family Trust to Beneficiary see item 7 Contributing Property from Member to SMSF see item Vesting, Sale to SMSF and Limited Recourse Borrowing Arrangement Related Party Lender, three stage process: Vesting Property from Family Trust to Beneficiary see item 7 Limited Recourse Borrowing Arrangement Related Party Lender see item Vesting and Sale to SMSF and Limited Recourse Borrowing Arrangement External Bank Lender, three stage process: Vesting Property from Family Trust to Beneficiary see item 8 Limited Recourse Borrowing Arrangement External Bank Lender see item 5 Page 4 of 5

5 Additional Services Value added 12. Prepare Mortgage or charge over Asset held by Custodian, for a Related Party Lender 13. Prepare Mortgage or Charge for general (non-bank) lender 14. Drafting commercial lease for SMSF 15. Update Company Constitution (replace Memorandum and Articles) 16. Binding Death Benefit Agreements and Nominations (as part of Succession Planning) 17. Conveyancing (Settlement Agent) fees 18. Lawyer s Certificate of Advice to Custodian and guarantors on a Limited Recourse Borrowing Arrangement * Please note 1. Extras include Office Disbursements in excess of the copies included in the description above i.e. photocopying, printing, titles office and ASIC search fees, stamp duty, Landgate registration fees and Rating Authority disbursements. 2. For non-real property or multiple asset transfers, please contact us. If you would like more information, please contact us on or visit our website. Page 5 of 5