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Background; Have just taken a phone call from the widow of a member who has died recently. Both deceased and widow only members of smsf. Question can the smsf from the Deceased Members account balance pay the expenses associated with his funeral?
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Hi Campbell
There is no ability for a deceased members balance to be able to be used to pay for their funeral expenses.
A superannuation death benefit is a payment made to a dependent beneficiary or to a non dependent or to the trustee of a deceased estate.
If a death benefit payment can be made then once this is paid out it could be then used to pay for the funeral expenses.
Thanks
SMSF AAA