The Leading Member does have a lot of control and this is a risk for all members. If any member is concerned they should leave the Fund or if the Trustee of the Fund is concerned upgrade the deed to the LightYear Docs SMSF trust deed rather than the Leading Member SMSF, it still has all the strategies just not the control.
Articles in this section
- What is a Leading Member SMSF and how is it different to a standard SMSF?
- What are the benefits of a Leading Member SMSF?
- Are there any risks associated with a Leading Member SMSF?
- How does the Trustee ensure that the Leading Member acts in the best interest of the Fund?
- What happens if I do not appoint a 2nd Leading Member, and the 1st Leading Member passes away suddenly?
- I’m nervous about appointing one person in a Fund as a Leading Member. Are we giving full control of the fund to this person?
- Is a Leading Member SMSF or Trust the same as Bloodline?
- Is a Leading Member fund legal?