In most instances, superannuation does not form part of a deceased’s estate. This means that in most cases, it is not paid to the estate unless the deceased person has made a valid and binding nomination to their estate. Superannuation and life insurance cannot be used to pay estate debt and liabilities – section 205 of the Life Insurance Act 1995 (Cth).…
The Superannuation Industry (Supervision) Act 1993 (Cth), is the legislation that governs the relevant super laws for Self-Managed Super Funds or SMSFs. Individuals choose to establish a self-managed super fund for the benefit of having total control of the investment strategy of their retirement savings and because as a trustee, you decide how your fund…