Q: A few years ago my wife and I set up non-lapsing binding death benefit nominations and reversionary pension nominations to manage our death benefits when our SMSF was under individual trustees. We have since converted our SMSF to having a corporate trustee. Is there a need to re-do our nominations? There is no change to beneficiaries. – Shiresh

A: Keep such arrangements as uncomplicated as possible, says Peter Crump, a senior consultant in the private wealth division at BDO in Adelaide.