Binding Death Benefit Nominations

/Binding Death Benefit Nominations
Binding Death Benefit Nominations2018-11-07T06:33:12+00:00

Binding Death Benefit Nominations

Where the trust deed of an SMSF allows, members can lodge a binding death benefit nomination form with themselves as trustees. You might ask, if all members are trustees what is the point of this? There can be a situation where, in the absence of a binding death benefit nomination, the remaining trustee/members can pay the benefits to themselves and not to those people the deceased member wanted.