Question of the week: death benefits

SMSF technical expert and columnist for The Australian newspaper
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Q: In a two member SMSF, where each is the declared beneficiary of the other and each has approximately 50 % of the assets in the fund, upon the death of one member, can the other member retain the funds in the SMSF or must they be paid out?

If they need to be paid out, is there a time limit to this? And what if the funds aren't liquid e.g. property assets or term deposits?

 

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