SuperCentral asks Trustees: Where is your trust deed?
Document provider, SuperCentral, gets calls from SMSF clients weekly asking where their trust deeds are stored. Peter Townsend from SuperCentral said that he sometimes feels like he is running a detective agency.
“We are often asked to provide a signed copy of a fund’s deed, usually at a time when it is of utmost importance, such as the death of a member or being required by a third party for any number of reasons. Original signed documents can become misplaced or hard to track down as SMSFs move between professional advisers,” said Peter Townsend, Managing Director of SuperCentral.
In order to alleviate these issues, an electronic copy should always be stored.
While not mandatory, SUPERCentral always recommends trustees send an electronic copy of the signed and dated deed to be stored. The SMSF Deed Vault can hold all the documents relating to the SMSF, which can be securely accessed 24/7.
“Documents are stored, both on our Sydney-based internal servers, and backed to Cloud servers for added document security. This service provides trustees with real peace of mind and assist advisers by reducing business risks around servicing SMSF clients.
“As the saying goes, it’s better to be (in the) safe than sorry,” said Mr Townsend.