Based on recent ATO data, 28 per cent of all SMSFs are established on the NowInfinity platform.

NowInfinity general manager, Tracy Williams, said the new product features have been designed in collaboration with clients and industry experts.

“They offer many benefits including providing greater flexibility and clarity for advisers and trustees, and importantly provide clarity with regards to death benefit payments for estate planning purposes,” she said.

DGF Morgan director and solicitor David Morgan, NowInfinity’s legal services partner, said the most important estate planning provision in a deed is the hierarchy of death benefit payments.

“The NowInfinity deed very clearly itemises the priorities, starting with reversionary pensions, which we see as being consistent with the strategic objectives of many advisers and trustees in this space,” he said.

“Another key provision is providing attorneys, under certain circumstances, to make or amend Binding Death Benefit Nominations and Reversionary Pension Nominations, which we believe can lead to a member’s estate planning intentions being better met should they become incapacitated.

“With more and more instances of lost fund documents, trustees who hold a copy of the lost original document have the specific power to sign a deed of confirmation which may permit the trustees to rely on the copy and regard it as if it were the original signed document.”

The new deed will act as the cornerstone for NowInfinity’s new SMSF deed update and compliance solution due to be released next year.

Ms Williams added that NowInfinity will also soon be launching its reimagined SMSF compliance solution, Super Comply, which will include solutions to assist clients in updating their deeds and access a central compliance module that will enable them to easily keep their SMSF deeds and investment strategies up to date and compliant.