Ask Max: Trustee trauma, the work test, life insurance in SMSFs and re-contributing withdrawn funds.

Max answeres your questions on Replacing a second trustee. Meeting the work test requirements. Do I pay CGT on a property used by family members? Tax liabilities for grandchildren beneficiaries. Is life insurance in a SMSF compulsory? The advantages of putting withdrawn funds back into a SMSF.

PORTFOLIO POINT: Max Newnham has spent 30 years working with – and writing about – small businesses and SMSFs. Each week he draws upon this experience to answer the questions of Eureka Report members.

This week:

Do I need a replacement second trustee?

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