If the non contributing trustee of my SMSF dies do I have to replace them? The fund is in the draw down phase providing a pension.
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If the non contributing trustee of my SMSF dies do I have to replace them? The fund is in the draw down phase providing a pension.
A single-member SMSF must have either 2 individual trustees, or a company as trustee.
So, if you lose a trustee, then you either have to replace them or change to a company.
Best to change to a company now, then it will not be an issue at a stressful time later.
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If the non contributing trustee of my SMSF dies do I have to replace them? The fund is in the draw down phase providing a pension.
A single-member SMSF must have either 2 individual trustees, or a company as trustee.
So, if you lose a trustee, then you either have to replace them or change to a company.
Best to change to a company now, then it will not be an issue at a stressful time later.
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