2023 Superannuation

SMSFs and death benefit payments

Published Date: 14 Sep 2023


This article discusses the practical considerations of what to do with superannuation on the death of a member. The death of a loved one can be a stressful time and can also lead to family arguments over the most trivial of matters. Dealing with a deceased family member’s superannuation requires careful consideration and management. This article starts with some common misconceptions and dispels a number of pre-conceived ideas. It is important that certain administrative tasks are undertaken prior to any payments of benefits; this not only ensures that any following transactions are valid, but also reduces or eliminates the ability for those transactions to be overturned or challenged. The article then goes through the practical steps that must be taken or at least considered to ensure that the process is as stress-free and easy as possible.

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2023 Superannuation

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