This presentation explores some important and often overlooked issues in connection with planning for the end of the SMSF life-cycle, including issues around estate planning, the transfer of assets and control of an SMSF on the death of a member, and either maintaining or unravelling investment structures to achieve the desired outcomes. Topics covered include:
- Migration of value to next generation family members - dealing with illiquid assets
- Utilising death and disablement insurance
- Issues with the interface between death benefit nominations and reversionary income streams
- Traps for binding death benefit nominations
- Use of powers of attorney to extend the life of the fund
- Dealing with control of an SMSF following the death of the principal member.