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Providing independent legal advice to SMSF trustees

SMSF trustees have serious responsibilities

Being a SMSF trustee has serious responsibilities

 If you are the trustee of your own Self-Managed Superannuation Fund (SMSF),  buying a residential investment property through your Fund is one of the biggest decisions that you can make.

Mantel Legal Services has over 5 years’ experience in providing independent legal advice to SMSF purchasers of residential investment property. For a reasonable fixed fee, Alice Mantel can assist you with understanding the complex documents that need to be signed before your purchase can proceed. Just make a quick call to arrange an appointment on mobile 0403 088 910.

Getting started on your SMSF investment

Before you make any investment your trust deed should state the Fund’s investment strategy, including your Fund’s investment objectives and the types of investments your Fund can make. Your financial planner is best equipped to advise you about setting up the trust deed and finding the right loan for your needs.

Your investment strategy should be reviewed regularly to ensure it continues to reflect the purpose and circumstances of your Fund and its members and any decisions made should be documented.

Most trustees use a financial planner when deciding to borrow to purchase a residential investment property because a SMSF is restricted to a limited recourse borrowing arrangement (LRBA), which limits the lender’s recovery to the property that is security for the loan, in the event that the SMSF defaults. The personal assets of the members are thereby protected and they will avoid liability for any defaults of the SMSF.

There are a number of financial planners who specialise in obtaining these particular types of loans and Alice is able to discuss options with you.