This Article has been adapted from a presentation that the
author made for the Law Society of NSW in their Elder Law, wills
and Probate: One day Intensive on 12 March 2024
Introduction
Since the introduction of compulsory superannuation
contributions in 1992 the superannuation industry has grown to
become a $3.5 trillion industry as at June 2023. Of that
total amount approximately $884 billion are held in self-managed
superannuation funds (SMSFs).
For any estate planning lawyer it is crucial to consider as part
of the estate plan what will happen to a client's
superannuation death benefit upon their passing.
Who can legally receive a superannuation death benefit
A member's superannuation death benefit upon their passing
is not an asset of the deceased member's estate. There
may be some instances where the superannuation death benefit will
be paid into the member's deceased estate in which the
provisions of the member's will or the rules of intestacy
