If there are two Individual Trustees of a SMSF and one dies, how soon afterwards can you replace the deceased Trustee?

You can replace the deceased trustee straight away, but it must be within six months.  You can either bring in a new individual trustee or set up special purpose corporate trustee, which includes the change in trustee.

 

Please be advised this is general information only, and is not to be taken as legal advice. If you would like more information, or have a legal query, please contact Abbott & Mourly directly.
Reviewed: 17/01/2024