How to direct particular super assets to particular beneficiaries
A key benefit of having your super in a SMSF is that you can choose who ultimately benefits from particular assets within your fund when you die.
‘UPEs’ and ‘FMDs’, and your estate planning
What is, and what is not, in your personal estate? This may sound like a academic question not worthy of a lot of thought. However, if you are in estate planning mode, it is critical that you answer this question correctly.
Can your partner change their Will after you die?
Just because you and your partner make ‘mirror Wills’ does not mean that your partner cannot change their Will (either before or after you die). Furthermore, your partner does not have an obligation to inform you if they do change their Will. Find out how to deal with these issues.
Is your executor automatically appointed as your replacement trustee/director for your SMSF?
The short answer is, no. There is no law or regulation that has that effect. It may be that the terms of your super fund deed provide for this to occur. However, most super fund deeds that we have come across do not. See Ioppolo v Conti WASC 389 and Wooster v Morris...
It’s official. Super isn’t part of your estate.
Your super doesn’t form part of your estate, and is not subject to the terms of your Will. It’s therefore critical to have in place appropriate arrangements to make sure your super ends up where you intend.
Digital assets after death: The Wild West
The digital realm is truly the ‘Wild West’ when it comes to management and realisation after death.