Superannuation is increasingly a major asset for more and more Australians.
Given its significance, it is critical that superannuation is properly dealt with regardless of whether preparing a basic Will or implementing a complex estate planning strategy.
It is essential to consider both estate planning and superannuation when developing any estate planning strategies. A strategy that builds wealth in superannuation, but does not consider how it will be passed on is flawed, as is an estate plan that does not specifically consider the issues inherent in superannuation death benefit planning.
The aim of this paper is to provide an overview of some of these traps and opportunities advisors must navigate to assist clients achieve their objectives. It is important to remember that, regardless of the complexity, good estate (and superannuation death benefit) planning is about providing certainty for both the Will-maker and the ultimate beneficiaries.
At the time of publishing, the contents of this resource were accurate and correct.
Disclaimer: Technical Papers contain general advice only and are prepared without taking into account particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association