Introduction
Superannuation has evolved significantly since its compulsory introduction in 1992, evolving into a massive $3.5 trillion industry as at June 2023. Of this total, approximately $884 billion is held in self-managed superannuation funds (SMSFs). For estate planning, understanding what happens to your superannuation death benefit upon passing is crucial.
Who can receive a Superannuation Death Benefit?
A superannuation death benefit is not considered an asset of the deceased’s estate. Instead, it is governed by specific regulations: [...]