Death Benefit Nominations SMSF
One misconception that many people have is that their normal last Will & Testament will safely distribute their estate, including money tied up in their Superannuation Fund but the payment of benefits from an SMSF upon the death of a member is done in accordance with the governing rules of the fund, not according to the terms of the Will.
This is why it’s important that every member of an SMSF to direct how benefits are to be paid upon the death and the death benefit nominated is the vehicle to make sure that this is done.
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