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Home / SMSFs / SMSF estate planning / SMSFs and estate planning: Issues to consider after the death of a SMSF member

SMSFs and estate planning: Issues to consider after the death of a SMSF member

Garth McNallyGarth McNally

In this article we look at the estate planning issues that are relevant at the SMSF level. This includes how insurance proceeds must be dealt with, tax outcomes for the fund that need to be considered, the payment processes and requirements around member benefits and what considerations may be relevant to the future of the fund.

Insurance proceeds

It’s not uncommon for SMSF members to hold some level of personal insurance cover within their fund, including life insurance, total and permanent disability (TPD) and in some cases, income protection insurance. Some SMSFs may even hold a trauma policy for fund members where that policy was taken out before July 2014.

Read more about insurance inside super.

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About the author

Garth McNally
Garth McNally
Garth has worked in the Australian Superannuation industry for over 20 years with a specific focus on self-managed super funds. He provides ongoing support and training to individuals as well as to professionals working in the superannuation area, including advisers, accountants and lawyers. He is a regular contributor to industry publications and to the leading professional bodies including Chartered Accountants Australia & New Zealand (CA ANZ).
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