Choosing between an individual and a corporate trustee is an important decision that arises when establishing an SMSF.
Despite this decision's significance, many SMSF members often appoint trustees without understanding the difference between the two.
It is important for SMSF members to understand the advantages and disadvantages of appointing an individual or corporate trustee. Although appointing an individual trustee is considered to be the cheap and easier option (that many SMSF members choose), this option can often prove to be a false economy.
Here are some of the benefits SMSF members can enjoy when choosing a corporate trustee.