thanks for the replies MK and Lindso.Lindso,following on from...

thanks for the replies MK and Lindso.

Lindso,
following on from your last post, as well I assume that if the 2 person fund is not wound up then it has two other options.
Either it continues as a one member fund and appoints a non member trustee (since SMSFs must have a least 2 trustees) or it converts to a corporate fund.

I am reading my deed to try to determine if the first option is allowed or if a new deed would be required. Back to my original question, for a corporated fund I assume that not only would the names need to be changed but a new deed would be required and, I am sure, new fees to the appropriate authorities.

When we set up the fund the advice to have two individual trustees seemed good but as time goes on I realise the need for a clear end strategy, particularly for my departing this mortal coil first, as I have all the knowledge, experience etc in our SMSF.