smsf set up: company v individual trustee, page-2

Hi Lost,

This is purely a personal choice, but here is my summery of it:

Advantages of having a Corporate Trustee:
1] Easier estate succession on death of a trustee
2] Ease of adding or subtracting additional members (eg, child)
3] Greater asset protection & liability advantage
4] Easier to borrow money to invest
5] Greater flexibility to make lump sum payments
6] Good for single-member funds

Advantages of having a Corporate Trustee:
1] No ASIC forms to complete to establish the SMSF;
2] No ongoing ASIC reporting obligations or fees to comply with; and
3] Fewer procedural issues to deal with, as there are more flexible requirements for holding trustee meetings and no need to comply with a company constitution.
4] Cheaper to setup as it has no "incorporation" costs

It is generally agreed that a company structure is the "better" way to go, with serious advantages in the event of divorce or death of a member.

If you want to read more, just Google:
SMSF corporate vs individual trustees