Updating Smsf After Death

Summary

Lawyers and accountants in South Australia should ensure that the deceased members name is removed from ASIC reports and other official records when managing a Self-Managed Super Fund (SMSF) after a members death. This is crucial for compliance and accurate record-keeping. Trustees must update all necessary documentation in line with legal obligations. Consulting with a legal expert or accountant familiar with SMSF management is advisable for specific guidance.

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should lawyers and accounts know this and inform their clients
Yes, lawyers and accountants should inform their clients about the requirement to update documents, such as ASIC reports, when dealing with a Self-Managed Super Fund (SMSF) after a member's death. It's essential for compliance and accurate record-keeping. Do you have any other questions related to your SMSF?