Tax with Max: Estate planning for super

Thinking about where an SMSF’s assets go after the death of a member and accessing the age pension while paying off a mortgage.

Summary: A married couple with sufficient income from investments who will not need their super to live on when one of them dies may plan to forward the assets to the survivor and then in turn to their children. This would work in theory if the super were paid to the surviving dependant member as a lump sum and proceeds distributed equally to the children.

Key take-out: The success of this strategy depends on the surviving member acting in accordance with the deceased’s wishes and it’s worth seeking professional advice to ensure both members of the couple have their wishes fulfilled. 

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