Statement of Advice presentation
Your Statement of Advice
Prepared for Elena and Marcus Whitfield | 12 November 2026
Prepared by Daniel Okafor, Financial AdviserDraft for adviser review: not for issue
Who looks after you
Your team at Larkfield Wealth
The people who look after you. Select anyone to read more about them.
Financial advice from Hawthorn, Melbourne.
Goals and objectives
Your goals, and how our advice serves them
Select a goal to see which recommendations work towards it, or a recommendation to see the goals it serves.
Our recommendations
Pay off the home loan. Directing $60,000 a year of trust distributions to the loan clears it by about June 2030, while the $180,000 offset stays as your cash reserve.
Pass wealth to the children, protected. Testamentary trusts in your wills, binding nominations in the SMSF and a successor appointor for the family trust set out who receives what, and how.
Keep the business and the SMSF running. Updated company constitutions, Elena as successor appointor, a documented related-party lease and income protection for Elena keep things running if Marcus cannot.
Fund school and university. Keeping the $180,000 offset as a cash reserve and protecting Elena’s income means school and university costs are covered from cash flow.
Clear the home loan by 2030 serves paying off the home loan and funding school and university.
Salary sacrifice to the cap serves retiring on $160,000 a year.
A $240,000 contribution to super serves retiring on $160,000 a year and passing wealth to the children.
Refresh the SMSF investment strategy serves retiring on $160,000 a year and keeping the SMSF running smoothly.
Income protection for Elena serves keeping things running if something happens, and funding the children’s education.
Estate planning with your solicitor serves passing wealth to the children and keeping the business and SMSF running.
From your Statement of Advice dated 12 November 2026.
Personal circumstances
Where you are today
Elena and Marcus, you hold most of your wealth across your home, your SMSF, the family trust and the business. Select a figure to see what makes it up.
Elena 51, GP, three days a weekMarcus 54, engineer and directorOliver 19, at universitySophie 16, Year 11Kew VIC
Figures as at 31 October 2026, from your Statement of Advice dated 12 November 2026.
Recommendations
Six recommendations at a glance
Select any card for the advice, its benefits and the things you should know.
For adviser reviewUse Larkfield Wealth's approved strategy wording from the Advice Library where it exists; any other wording needs your approval.
Recommendation 1 · Elena and Marcus
Clear the home loan by 2030
Advice
- Pay $60,000 a year of trust distributions off the loan
- Keep $180,000 in the offset as your cash reserve
- Your accountant confirms each year’s distributions
Benefits
- Loan cleared by about June 2030, before Marcus steps back
- Less interest paid over the life of the loan
Things you should know
- Distributions are taxed in your hands first
- Money paid off the loan is harder to get back
June 2030estimated payoff
$60,000extra a year
Recommendation 2 · Elena
Salary sacrifice to the cap
Advice
- Elena salary sacrifices $1,100 a month from 1 December 2026
- Total concessional contributions reach the $30,000 cap
Benefits
- Taxed at 15% in super instead of Elena’s marginal rate
- About $2,594 a year less tax, net
Things you should know
- Money in super is preserved until retirement
- Exceeding the cap means extra tax
$13,200extra a year
$30,000concessional cap
Recommendation 3 · Elena
A $240,000 contribution to super
Advice
- Elena contributes $240,000 to the SMSF in 2026–27
- Funded from a $240,000 trust distribution of cash
Benefits
- Moves $240,000 into the concessional tax environment of super
- Builds Elena’s balance towards retirement
Things you should know
- Starts a bring-forward period to 30 June 2029
- Your accountant confirms the distribution first
$240,000contribution
$120,000still available to 2029
Recommendation 4 · Whitfield Super Fund
Refresh the SMSF investment strategy
Advice
- Keep the Hawthorn office and document the lease at market rent
- Invest new money in listed investments until property is 40%
Benefits
- Less reliance on one building and one tenant
- Fits a high-growth risk profile
Things you should know
- The lease to Whitfield Consulting must stay at market rent
- Listed investments go up and down in value
51%in property today
40%target
Recommendation 5 · Elena
Income protection for Elena
Advice
- Income protection of $8,750 a month for Elena
- 90-day waiting period, benefit to age 65, outside super
Benefits
- About 75% of Elena’s income if she cannot work
- Premiums are tax deductible
Things you should know
- Estimated premium of $2,950 a year, subject to underwriting
- Cover depends on full and honest answers to the insurer
$8,750a month
$2,950premium a year
Recommendation 6 · Elena and Marcus
Estate planning with your solicitor
Advice
- New wills with testamentary trusts
- Binding nominations in the SMSF and a successor appointor
- Enduring powers of attorney and updated constitutions
Benefits
- You decide who receives what, and how it is protected
- The trust, SMSF and companies keep running
Things you should know
- Your solicitor prepares the documents and charges separately
- Review them when your circumstances change
6documents
2corporate trustees covered
From your Statement of Advice dated 12 November 2026.
Recommendation 1 Elena and Marcus
Clear the home loan by 2030
We recommend using $60,000 a year of trust distributions to pay down the home loan, and keeping the offset as your cash reserve.
- Each year, direct $60,000 of trust distributions (paid to you both as beneficiaries) to the home loan
- Keep the $180,000 in the offset account as the family’s cash reserve
- Your accountant confirms the distributions each year as part of the trust’s tax planning
- The loan is cleared by about June 2030, before Marcus steps back from the business
- Less interest paid: the loan currently runs to 2043 at 6.04% variable
- Your cash reserve stays in place for school fees and the unexpected
- Distributions are taxed in your hands before they reach the loan
- Money paid off the loan can only come back out through a redraw or a new loan
- If the business has a lean year, the trust may distribute less
- Use the offset to repay the loan now: clears $180,000 straight away but leaves you without a cash reserve
- Invest the distributions instead: may grow faster over time, but the loan would run to 2043
The numbers at a glance
$420,000home loan today
$60,000extra repayments a year
June 2030estimated payoff, instead of 2043
From your Statement of Advice dated 12 November 2026.
Recommendation 2 Elena
Fill Elena’s concessional cap
We recommend Elena salary sacrifices an extra $13,200 a year so her contributions reach the $30,000 cap.
- Elena salary sacrifices $1,100 a month ($13,200 a year) from 1 December 2026
- With her $16,800 super guarantee, total concessional contributions reach the $30,000 cap
- No change for Marcus: his super guarantee already reaches the cap
- Contributions are taxed at 15% in super instead of Elena’s marginal tax rate
- About $2,594 less tax a year, net of contributions tax
- Builds Elena’s super towards retirement in 2033
- Money in super is preserved until Elena retires after 60
- Contributions over the cap are taxed at Elena’s marginal rate
- Neither of you can use carry-forward: both balances are over $500,000
- Personal deductible contributions: the same tax result, but Elena would need to lodge a notice of intent each year
- No extra contributions: keeps the money available now, but pays more tax
Elena’s tax saving, 2026–27
Taxable income$140,000before→$126,800after salary sacrifice
Estimates using 2026–27 Australian resident tax rates, including the Medicare levy. Hover a bar for the workings.
From your Statement of Advice dated 12 November 2026. Estimates only.
Recommendation 3 Elena
Move $240,000 into Elena’s super
We recommend Elena contributes $240,000 to the SMSF this financial year, funded from cash in the family trust.
- The family trust distributes $240,000 of its cash to Elena (your accountant confirms the distribution)
- Elena contributes $240,000 to the Whitfield Super Fund as a non-concessional contribution in 2026–27
- This uses the bring-forward rule, which runs to 30 June 2029
- Earnings on the $240,000 are taxed at up to 15% in super, instead of in the trust
- Builds Elena’s balance from $820,000 to $1,060,000
- Leaves $120,000 of the bring-forward available until 30 June 2029
- Money in super is preserved until Elena retires after 60
- The distribution is part of the trust’s income for 2026–27 and is taxed accordingly
- Contributions over the cap are taxed at 47% unless released
- Contribute $120,000 only: stays within the annual cap without starting the bring-forward period, but moves less into super
- Leave the cash in the trust: keeps it accessible, with earnings taxed outside super
$240,000contribution in 2026–27
$120,000bring-forward left to 30 June 2029
$1,060,000Elena’s balance afterwards
From your Statement of Advice dated 12 November 2026.
Recommendation 4 Whitfield Super Fund
A broader mix for your SMSF
We recommend keeping the office and investing new money in listed investments until property is 40% of the fund.
- Keep the Hawthorn office, leased to Whitfield Consulting at $62,000 a year
- Document the lease at market rent, with an annual rent review
- Invest new contributions and surplus cash in Australian and international shares
- Trustee minute: adopt the new investment strategy (target: property 40%, Australian shares 25%, international shares 25%, cash and fixed interest 10%)
- Less reliance on a single building and a single, related tenant
- Fits your high-growth risk profile with time to retirement
- A documented lease supports the fund’s compliance at audit
- The lease must stay at market rent and on commercial terms
- Listed investments rise and fall in value
- Property makes up 51% of the fund today, so the change takes a few years
- Sell the office: diversifies straight away, but the business would need new premises and the fund would pay selling costs
- Leave the strategy as it is: keeps over half the fund in one asset
Member balances
Target mix shown at a fund balance of about $2,375,000, with the office at today’s value of $950,000.
From your Statement of Advice dated 12 November 2026. Estimates only.
Recommendation 5 Elena
Protect Elena’s income
We recommend income protection of $8,750 a month for Elena, held outside super.
- Income protection of $8,750 a month, about 75% of Elena’s income
- 90-day waiting period, benefit paid to age 65
- Held outside super, in Elena’s name; estimated premium $2,950 a year
- Replaces most of Elena’s income if illness or injury stops her working
- Premiums are tax deductible
- Matches the cover Marcus already holds
- The premium is an estimate until the insurer completes underwriting
- Answer every application question fully and honestly, or a claim may be refused
- Premiums usually rise with age
- A 30-day waiting period: pays sooner, but costs more each year
- Cover inside the SMSF: premiums paid by the fund, with fewer benefit options
From your Statement of Advice dated 12 November 2026 (insurance needs analysis).
Recommendation 6 Elena and Marcus
Protect what you have built
We recommend six estate planning documents, prepared with your solicitor.
- New wills with testamentary trusts for each of you
- Non-lapsing binding death benefit nominations in the SMSF
- Elena as successor appointor of the family trust, then the children
- Enduring powers of attorney, and updated constitutions for both trustee companies
- You decide who receives your super, the trust and the business, and how
- Testamentary trusts can protect the children’s inheritance and reduce tax on income
- The trust, the SMSF and the companies keep running if something happens to one of you
- Your solicitor prepares the documents and charges separately
- Review the documents when your family or finances change
- Binding nominations must follow the fund’s deed to be valid
- Simple wills only: quicker and cheaper, but without the protection of testamentary trusts
- Leave it for now: the trust, SMSF and companies would have no clear succession
Your estate planning checklist
New wills with a testamentary trust for each of you, so Oliver and Sophie can receive their inheritance in a protected, tax-effective way.
Non-lapsing binding nominations for both of you (the fund’s deed allows them), so the trustee must pay your super as you direct.
Name Elena as successor appointor, then Oliver and Sophie, so control of the trust passes as you intend.
Enduring powers of attorney for both of you, so someone you trust can act for you if you cannot.
Update the constitution so a director can be replaced without a court order if Elena or Marcus cannot act.
Update the constitution so the fund keeps running if a director dies or loses capacity.
From your Statement of Advice dated 12 November 2026. Ticks are for discussion only and are not saved.
Projection Illustrative
Proposed position: the impact of our recommendations
Net financial assets (super, investments and cash, less debt), at the end of each tax year (30 June). Hover or tap the chart; use the buttons to compare.
Hover, tap or use arrow keys
Combined super at 30 June 2033
$3.05m vs $2.64m
Home loan repaid
June 2030 vs 2043
Elena’s contribution, 2026–27
$240,000
Elena’s concessional contributions
$30,000 a year, the cap
Illustrative only, not guaranteed. Today's money. The projection shows your super, the family trust’s investments, cash and the home loan on each path. It leaves out the family home, the business and personal assets.
- Growth assets return 6.5% a year before fees, defensive assets 3.5%, and inflation is 3% a year
- Retirement spending of $160,000 a year in today’s money from 1 July 2033, drawn from super and the trust’s investments
- Tax rates and contribution caps stay as they are in 2026–27
- The home loan stays at 6.04% variable, with $180,000 kept in the offset
From your Statement of Advice dated 12 November 2026 (Projections).
Fees and charges
Fees and charges
All amounts include GST.
| Fee | Amount | When | How it is paid |
|---|---|---|---|
| Advice and Statement of Advice | $5,500 | When you accept the advice | Invoice |
| Implementation | Included | ||
| Ongoing advice12-month arrangement, renewed each year | $9,900 a year | Monthly | From your joint account |
| SMSF administration, audit and broker | No change | Ongoing | Paid by the fund, as now |
| Elena’s income protection premiumEstimate, subject to underwriting | $2,950 a year | Annually | Direct debit, tax deductible |
Ongoing advice
$9,900 a year, incl. GST
A review meeting every 12 months covering your super, the SMSF’s investment strategy, the home loan and your insurance, plus help with trust distributions alongside your accountant.
Each year we ask you to confirm in writing that you wish to continue and consent to the fees. Without that consent the arrangement ends and no further ongoing fees are charged. You may end it at any time by telling us.
From your Statement of Advice dated 12 November 2026 (Fees and costs).
Implementation
Next steps
Select a step to see who does what.
Step 1: review and sign
YouRead your Statement of Advice and ask us any questions
YouSign the authority to proceed, sent through Annature
Step 2: cover and distributions
UsLodge Elena’s income protection application with the insurer
ElenaComplete the underwriting call with the insurer
UsWrite to your accountant about the $60,000 a year for the home loan and the $240,000 for Elena’s contribution
Elena and MarcusApprove the distributions as directors of Whitfield Holdings
Step 3: start the contributions
ElenaAsk her employer to start salary sacrifice of $1,100 a month
ElenaContribute $240,000 to the SMSF once the distribution is paid
UsCheck the contributions against the caps
Step 4: SMSF and estate documents
UsPrepare the trustee minute adopting the new investment strategy and documenting the lease
Elena and MarcusSign the minute as directors of Whitfield Super
Elena and MarcusMeet your solicitor about wills, nominations, the appointor, powers of attorney and the constitutions
From your Statement of Advice dated 12 November 2026 (What happens next).
Larkfield Wealth
Thank you
We look forward to putting your plan in place with you.
Contact us
Daniel OkaforFinancial Adviser
(03) 5550 4127
Hawthorn
Visits by appointmentHawthorn VIC 3122
(03) 5550 4127
Online
Messages and documentsin your Larkfield client portal
This presentation is general information only. It summarises the advice in your Statement of Advice and does not replace it. Please read it in full before acting, and ask us if anything is unclear. Projections are illustrative and not guaranteed. Past performance is not a reliable indicator of future performance. Larkfield Wealth, the Whitfields and every figure in this sample are invented.
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