SMSF’s succession planning and estates – who gets the money and who pays the tax - Loreena Gillon & Modiesha Stephens.21 September 2023

This seminar will cover:

This session will explore some of the issues to consider prior to and following the death of a SMSF member including:

• Control of the SMSF
• Power and constraints on the Executor
• How does a member ensure the funds go to the intended beneficiaries?
• What tax is payable by whom and what steps can the member take to reduce the tax burden on death?

About the speakers:

Loreena Gillon is the Director of Arithmos Chartered Accountants and has operated her West Perth Chartered Accounting practice for the past 26 years. Arithmos has a client base of predominantly professionals, all of whom operate & manage their affairs through various structures, including Trusts and Self-Managed Superannuation Funds.

Prior to establishing her chartered accounting practice in 1997 Loreena worked for accounting firms in the business services area.

Loreena is currently a Director of STEP Australia, is a member of the STEP Western Australia CPD Committee, Chairs the SME Stream for The Tax Institutes 2023 Tax Summit, and is a regular presenter in the area of Deceased Estates and Estate and Succession Planning for a number of professional bodies.

Modiesha Stephens is the Director at MS Legal which focuses on Taxation, Commercial and Estate Planning for SMEs and individuals. She has over 17 years' experience in advising SME and individual clients in all areas of State and Federal taxation with a particular emphasis on transactional tax advice covering income tax, capital gains tax, GST, transfer duty, pay-roll tax, land tax as well as assisting charities and non-profit organisations.

Modiesha also practices in estate planning including preparing complex wills, business and succession planning and trust law matters. In addition, Modiesha is an an experienced general commercial lawyer who advises clients in all stages of their business lives. When advising in these latter areas Modiesha is able to use her tax advisory skills to ensure her clients understand the State and Federal taxation consequences of their proposals.

Modiesha plays an active role with the Tax Institute of Australia and is currently a WA State Councillor, the Vice Chair of the WA PD Committee and a member of the Women in Tax Committee.