I am considering adding my 19 and 22 yr old children as trustees to my SMSF (currently my wife and I are trustees). One reason for this is that both children working part time are in commercial funds where fees take up most of their contributions.
The SMSF fund will be moving to pension phase in about 6 months time. One concern is the investment strategy that optimises income over growth whereas they need a strategy that is focussed on growth.
The second issue is cost, about $1,000 to make the change.
