SMSF Wind Up – What You Need to Know At some point, every Self-Managed Super Fund reaches the end of its journey. An SMSF wind up occurs when the fund is closed and the remaining balances are either paid out as pensions or lump sums, or rolled into another super fund. There are many reasons trustees decide to wind up an SMSF, including: The death of a trustee Major health issues or incapacity Rising costs that no longer justify keeping the fund open Divorce or relationship breakdown Trustees relocating overseas All members choosing to exit the fund An SMSF wind up is a natural part of the SMSF lifecycle and should be considered as part of your succession and estate planning. Ideally, these plans should be documented and signed by all trustees. We also recommend discussing your arrangements with an estate planning lawyer to ensure an enduring power of attorney…
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