We have published two new Retainer Instructions precedents in our Self Managed Superannuation Funds Guide.
The Retainer Instructions – Self managed superannuation fund is designed to assist practitioners when taking instructions from clients who are establishing a new fund. It covers all of the essential information required for the superannuation trust deed, including trustee and member details.
The Retainer Instructions – Existing self managed superannuation fund is designed to be used when a client wishes to make changes to an existing self managed superannuation fund that has already been established. It can be used to record instructions for a variety of situations including:
- changing the fund trustee;
- amending the rules of the fund;
- making a new death benefit nomination or reversionary pension nomination; and
- establishing a limited recourse borrowing arrangement.
Retainer instructions, which appear in “Getting the matter underway’ on all By Lawyers matter plans, are not only a useful precedent for file opening and matter management, they are a critical risk-management tool ensuring that all necessary information is obtained from the client and recorded.