Superannuation

 

Superannuation

Superannuation Binding Death Benefit Nomination

If there is not a Binding Death Benefit Nomination in place, it is not unusual for the superannuation fund trustees to reject claims by people who expected to receive all or some of the deceased’s death benefits. If claims are rejected, legal advice should be sought. Murdoch Lawyers can assist in making representations to the fund’s trustees and the Superannuation Complaints Tribunal. It is important to note that strict time limits apply to such applications.

Superannuation Complaints Tribunal

If there is not a Binding Death Benefit Nomination in place, it is not unusual for the superannuation fund trustees to reject claims by people who expected to receive all or some of the deceased’s death benefits. If claims are rejected, legal advice should be sought. Murdoch Lawyers can assist in making representations to the fund’s trustees and the Superannuation Complaints Tribunal. It is important to note that strict time limits apply to such applications.

Superannuation Advance Transfer Directive

Did you know there are different taxation treatments of your superannuation benefits on your death? The tax payable depends on whether the money is paid to your dependants (e.g. your spouse or children under 18) or to non-dependants (e.g. adult children or testamentary trusts).

However, if your superannuation benefits are paid out to you before you die, no tax should be payable regardless of who is the ultimate recipient.

The team at Murdoch Lawyers can assist you with a suite of documents specifically designed to address this issue which will allow your attorneys to redeem your superannuation benefits before you die so that those funds will form part of your personal estate and then be distributed tax free in accordance with the terms of your Will.

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Contact Information

Direct Line:07 4616 9812
Email Address: leanne@murdochs.com.au