A member who has lost capacity within a corporate trustee SMSF may be able to have the state represent them.

SMSF trustees diagnosed with a terminal illness should not empty their member balance as retaining some funds is necessary to ensure insurance benefits can be paid.

An SMSF can redirect an in specie benefit payment to anyone chosen by a member, but this may not sidestep stamp duty or sole purpose test considerations.

Despite an industry trend to add more people to an SMSF, having separate funds may create a simple way to manage death benefits for married couples.

SMSF practitioners and service providers may consider disregarding Design and Distribution Obligations (DDO), but a legal expert has advised funds may fall under those requirements.

Directors of an SMSF corporate trustee who do not obtain a director identification number may be kicked out of their fund and face ASIC action.