In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and William Fettes, Senior Associate, dive into the history of BDBNs and discuss some common BDBN strategies as well as practical tips and traps to be aware of.

Zac and Will  discuss where the term ‘BDBN’ originated from and where it derives its technical meaning. With respect to SMSFs, a BDBN is a product of the deed and the governing rules set out in the deed.

Zac and Will also discuss the importance of a fund’s full document trail with respect to BDBN strategies. If there are deficiencies in a fund’s document trail, this may possibly render a BDBN and other strategies invalid. Accordingly, the integrity of the fund’s full document trail is a relevant factor when preparing BDBN strategies as well as other succession planning strategies.

Finally, Zac and Will answer some frequently asked questions about BDBNs and discuss some of the common problems that are observed when reviewing BDBNs.

William will be presenting DBA Network Pty Ltd’s SMSF Online Update on 8 October 2021 and will be covering the topic of BDBNs in more detail. To register, please click here.

For a chance to have your SMSF query addressed on the show, please send your questions to [email protected].

Related articles and links below.

DBA Lawyers the best BDBN is now even better

The legal minefield of BDBNs updated

SMSF wills versus BDBNs what is best

Reversionary pension v BDBN which one wins

DBA Network

DBA Lawyers

Hosts (in order of appearance): Zacharia Galloway, Lawyer and William Fettes, Senior Associate

30 September 2021