From smsmagazine.com.au: SMSF advisers and trustees are advised to avoid using overly prescriptive deeds when setting terms for superannuation funds, as these can limit flexibility in complex situations.

A recent court case highlighted issues with a deed that imposed restrictive rules regarding the appointment of a legal personal representative as a trustee, which created difficulties when the consent was not provided.

Legal experts stress the importance of having general rules in SMSF deeds that comply with legislation rather than detailed clauses that could lead to complications.