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PROTECTING YOUR FAMILY

Do you know who would get your super if you passed away?

Many people wrongly assume that their superannuation will pass to their beneficiaries according to their will. In fact, this will only happen if your estate is the recipient of your superannuation death benefit. Legally, your superannuation fund can pay your death benefit to your spouse, and any of your dependants or your estate, at its discretion.

Estate planning

If your assets are more complex and you would like to share your wealth with many loved ones, an estate plan is essential.

What you need to know

Many (although not all) superannuation funds allow you to override this situation by making what is known as a binding death benefit nomination. This is a written nomination made by you, which directs your superannuation fund on how to pay your death benefit. There are several types of death benefit nominations, including non-binding options. 

As part of your estate plan, you also need to consider the taxation implications of how your death benefit is dealt with. Lump sum payments paid to dependants (as defined under income tax laws) are tax free. Taxable components paid to non-dependants are subject to tax.

Count on us

A Count adviser can help you:

  • Put in place a death benefit nomination
  • Get started on your estate plan

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KW Grimes & Associates Pty Ltd is an Authorised Representative of Count Financial Limited  Count Financial Limited ABN 19 001 974 625 AFSL No. 227232 which is 85% owned by CountPlus Limited ABN 111 26 990 832 (CountPlus) of Level 8, 1 Chifley Square, Sydney 2000 NSW and 15% owned by Count Member Firm Pty Ltd ACN 633 983 490 of Level 8, 1 Chifley Square, Sydney 2000 NSW. CountPlus is listed on the Australian Stock Exchange. Count Member Firm Pty Ltd is owned by Count Member Firm DT Pty Ltd ACN 633 956 073 which holds the assets under a discretionary trust for certain beneficiaries including potentially some corporate authorised representatives of Count Financial Ltd. The information on this web page is not advice and  is intended to provide general information only. It does not account of your individual needs, objectives, or personal circumstances.





  

Information on this website is based on current regulatory requirements and laws, which may be subject to change. While care has been taken in the preparation of this information, no liability is accepted by Count, its related entities, agents and employees for any loss arising from reliance on information within.
Information on this website is based on current regulatory requirements and laws, which may be subject to change. While care has been taken in the preparation of this information, no liability is accepted by Count, its related entities, agents and employees for any loss arising from reliance on information within.