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The sole member of a fund with a corporate trustee died intetstate. There is no BDBN. There are no other directors. Who is the person who now controls the fund (trustee) in order for it to be wound up?
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Hi David
The SMSF should get legal advice that includes a review of the Fund's trust deed. The intestate rules are complicated and differ state by state in Australia. If the member has died intestate there is no executor of their estate. My understanding is that the closest next of kin can apply to be the executor of the estate and it would be then this person that becomes the director of the SMSF trustee company.
Thanks
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