Superannuation & Binding Death Benefit Nominations
Superannuation is one of our largest assets but really thought about in our everyday lives.
Contrary to popular belief, superannuation does not automatically form part of a person’s estate to be dealt with under their Wills & Estate Planning. It is increasingly common to have a significant life insurance component (often referred to as a “death benefit”) that will be paid out to your family or your estate when you pass away. As a result, it is so very important to devote some thought as to how you want your superannuation to be distributed if you passed away.
A Binding Direction
By putting in place a binding death benefit nomination, you give a binding direction to your superannuation fund of where your benefits are to be paid when you pass away. Ensuring that you have a valid and binding direction in place, will reduce the risk of disputes and, importantly, give your loved ones certainty.
Essential Aspect… Estate Planning
Superannuation law is comprehensive and complex which is why Your Legacy Lawyer considers superannuation as an essential aspect of your overall estate planning.
Navigate Your Options
Start thinking about your superannuation and contact Your Legacy Lawyer on (07) 4580 1136 or via our Contact Us page today so we can help navigate the options you have to manage your superannuation in the most appropriate way for you and your loved ones.