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Superannuation and estate planning

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Published on 01 Jul 19 by "THE TAX SPECIALIST" JOURNAL ARTICLE

Superannuation and its link with estate planning has taken a big step forward since the 2017 superannuation reforms and the increase in the number of cases being contested before the courts and tribunals. Superannuation provides a useful vehicle as part of the management of a client’s estate planning, but it is not exhaustive due to the limits imposed by the introduction of the transfer balance cap and the value of death benefits that can be retained in superannuation. It is essential that an adviser understands how death benefits can be retained in superannuation and who is eligible to receive lump sums and pensions. The validity of death benefit nominations, provisions of the fund’s trust deed, and the last will and testament of the deceased are material to making sure that the right amount is paid to the right person at the right time. This article covers the superannuation side of estate planning, and discusses who is eligible to receive death benefit payments and the issues with a member’s transfer balance cap.

Author profile

Graeme Colley
Photo of author, Graeme COLLEY Graeme Colley is a well-known figure in the SMSF community with a long-standing reputation as an accomplished educator, technical expert and advocate for the sector. He is currently an ambassador for the Auditors Institute and Executive Education Facilitator with the AGSM at the University of NSW. He brings over 30 years of taxation and superannuation experience gained from a wide range of senior positions in the public and private sectors. Graeme contributes to many industry publications and is a joint author of the CCH Master Financial Planning Guide and Financial Planning in Australia. In addition to his work with the UNSW, his academic teaching experience extends to the Master of Commerce (Financial Planning) at the University of Western Sydney. Graeme is a qualified SMSF Specialist Advisor (SSA) and a Member of the Chartered Accountants Australia & New Zealand (CAANZ). Graeme's current roles: -Consultant & Ambassador for the Auditors Institute -Executive Education Facilitator with the AGSM at University of NSW - Current at 28 January 2026
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