You can set up a self-managed super fund (SMSF) at any age, although note that individuals are not permitted to make super contributions beyond the age of 74. Unless you are working.
"Members who had attained age 75, trustees could also accept ‘mandated employer contributions’. Apart from ‘mandated employer contributions’, trustees broadly could not accept any contributions in respect of a member aged 75 or more."
Unfortunately your parents should have set up a SMSF many years ago and deposited assets into the fund.
Many business people roll their commercial properties into their Superfund, any capital gains tax is paid at the time of rollover, but you can just get your friendly real estate agent to give you a valuation ( incidentally is never checked).
If your parents have $3 million in assets its more than enough to see them out, so why worry.
They could gift you some for your own SMSF as a already taxed contribution.
