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Binding Death Nomination Forms.

Make sure you know where your money is going.

 

Superannuation for many Australians is their largest asset after their home or business. So wouldn’t you like to know what happens to all the benefits in the case that you are no longer here to use them?

A Superannuation fund is not accounted for within your will, nor does it form part of your estate automatically.

The payment of the benefits of your superfund [inclusive of the account balance and any insurances] is left to the discretion of the Superfund trustee.  The binding death nomination provides a legally binding document detailing the payment of your Super benefits and to whom.

This will ensure that your benefits go to the right people.

Binding Death Nominations come as both standard and complex forms.

A standard form allows you to nominate two levels of beneficiaries in the case where the primary beneficiary predeceases the member of the superfund, then the benefits are passed onto the secondary surviving beneficiaries.

A complex form allows you to go beyond that and allocate a final surviving beneficiary where the second predeceases the member. It also allows you the ability to nominate specific assets to particular beneficiaries, and make them conditional.

 

There are guidelines however regarding the people that you can nominate.
This is inclusive of:

  • Your spouse
  • Your children (including step, adopted or ex-nuptial of any age)
  • Those that are financially dependent on you
  • An interdependent
  • Your legal personal representative (such as the executor of your estate)

 

 

Need help? Don’t know where to go from here?

Get it contact with us today to sort out your Binding Death Nomination Form.

Make sure you know where your money is going.

 

Superannuation for many Australians is their largest asset after their home or business. So wouldn’t you like to know what happens to all the benefits in the case that you are no longer here to use them?

A Superannuation fund is not accounted for within your will, nor does it form part of your estate automatically.

The payment of the benefits of your superfund [inclusive of the account balance and any insurances] is left to the discretion of the Superfund trustee.  The binding death nomination provides a legally binding document detailing the payment of your Super benefits and to whom.

This will ensure that your benefits go to the right people.

Binding Death Nominations come as both standard and complex forms.

A standard form allows you to nominate two levels of beneficiaries in the case where the primary beneficiary predeceases the member of the superfund, then the benefits are passed onto the secondary surviving beneficiaries.

A complex form allows you to go beyond that and allocate a final surviving beneficiary where the second predeceases the member. It also allows you the ability to nominate specific assets to particular beneficiaries, and make them conditional.

 

There are guidelines however regarding the people that you can nominate.
This is inclusive of:

  • Your spouse
  • Your children (including step, adopted or ex-nuptial of any age)
  • Those that are financially dependent on you
  • An interdependent
  • Your legal personal representative (such as the executor of your estate)

 

 

Need help? Don’t know where to go from here?

Get it contact with us today to sort out your Binding Death Nomination Form.

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