On retirement, most of us will have a considerable sum of money in a superannuation fund and that money cannot be disposed of under your will, which could prevent your spouse or children from accessing your superannuation unless you have clear legal directions in place. Superannuation death benefits are payments from your superannuation fund following death. This can only be paid to dependents, and usually the trustee of a superannuation fund decides this, as well as how much each dependent will receive. In most cases, a dependent is classified as:-
- a spouse of the deceased (married or de facto)
- a child of the deceased (whether adopted or a step-child)
- someone in an interdependency relationship with the deceased
- someone financially dependent on the deceased
Certain superannuation funds allow members to fill out a ‘binding death benefit nomination’ as do properly drafted Self Managed Superannuation Funds. This binds the trustee to transfer your superannuation benefits to a nominated dependant or to your estate.
Next Generation Estate Planning Lawyers can help you and your family gain peace of mind when it comes to the superannuation which you leave behind. We can also help those wishing to make a superannuation death benefit claim.
What it costs
Please contact Next Generation Estate Planning Lawyers to discuss your particular requirements. We will explain what we will do for you, how long it is likely to take, and give you a costs estimate. There will be no charge for the first consultation.