07/06/2018
SUPERANNUATION & ESTATE PLANNING
Did you know that super isn’t automatically paid to your estate in the event of your death?
Where super is paid will depend on your fund's rules, and any death benefit nominations you have made.
I always advise my clients to speak to their fund about making a Binding Death Benefit Nomination, or a Non-lapsing Death Benefit Nomination.
These are written nominations, directing your super fund on how to pay your death benefit (including the super balance, and any attached life insurance policy).
If this nomination is valid at the time of your death, your fund cannot exercise its discretion in determining who will receive your death benefit.
Although the rules may differ between funds, a Binding Death Benefit Nomination will typically need to be reviewed every 3 years.
A Non-lapsing Death Benefit Nomination will usually remain in place until you revoke it or change it.
To discuss your Estate Planning needs, call us on 02 4031 8443.
