Advisers helping SMSF clients with estate planning must place greater importance on the second member’s death and where those benefits are expected to end up.

The treatment of death benefits under the new superannuation laws is putting greater emphasis on proper estate planning procedures, according to a specialist law firm.

SMSFs that do not consider what happens if a member passes away will face numerous challenges in the fund’s wind-up, according to a superannuation technical expert.

Great care must be taken with who is chosen as the appointor of a new family trust as they are often considered to be the real power behind and ultimate controller of the trust, according to a superannuation and estate planning legal expert.

Advisers of SMSF clients need to consider carefully any estate planning strategies either in place or being considered in the wake of the superannuation legislation the government passed earlier this month, according to a specialist law firm.

A specialist law firm has recommended a mutual wills agreement as one potential solution for clients that have step-family estate planning circumstances.

A senior legal executive has recommended SMSF advisers become specialists in estate planning to effectively strengthen their advice proposition and their practice models.

Advisers providing estate planning services need to ensure how this activity is officially categorised, according to two senior legal executives.