Planning for superannuation usually focuses around contributions and pensions but equally important is understanding exit strategies. As part of a regular health check of your superannuation plan there is a need to address how appropriate are the strategies in place to address:
- sudden death and non-sudden death
- legal incapacity and physical incapacity
- plans to temporarily or permanently leave Australia
- a desire to simplify your strategy
- how does your beneficiary mix [spouse, children, blended family children, financial dependents, outlived them all] impact?
- and if you do decide to windup your SMSF, what are the practical issues that need to be addressed?