A short name suits a Self-managed Super Fund much more than a long one and there is a good reason why it is so. If the names are long, it is likely that the bank accounts and the asset registers will cough up incomplete names. I can personally vouch knowing computer systems in banks which categorically deny registering long names.
Short names suit SMSFs more
The protocols related to changing names midway through the life of SMSF are tricky and your best bet is to begin with an easy and short name. I think the first thing you can do to your account name is cutting out all the noise words. For instance, Adams Super Fund is a lot better than Adams Executive Super Fund or Adams Family Super Fund.
Case made for corporate trustees
There is a school of thought which suggests that corporate trustees should not be introduced to the grind until your SMSF passes the $1 million mark. I think bringing them on board from the very beginning might be a better idea. As a first, the trustee structure is such that any changes made midstream can hurt and of course, what you may tend to lose out in terms of fee can be easily offset by their efficacy and your subsequent profits.
Suitable for SMSF succession
It is no secret that corporate trustees are also your best chance when it comes to SMSF succession. To remember, corporate trustees can also help bring down your penalty amount in the event of an ATO contravention.
