Superannuation & Death Benefit Nominations
At Cronin Miller Litigation, we can help you make an informed decision about how your superannuation should be dealt with on your death.
What is a superannuation death benefit?
A superannuation death benefit is the money in your superannuation account, plus any life insurance attached to it, that is paid out when you die.
What is a death benefit nomination?
A death benefit nomination is a legal instruction telling your superannuation fund who you want to receive your super when you die. There are two main types:
- a binding nomination which, if correct, will be legally binding on the trustee of your superannuation fund; and
- a non-binding nomination which tells your fund your wishes, but they can decide differently based on your circumstances.
Importantly, there are limited people who you can nominate to receive your superannuation death benefit. You can only nominate your spouse, your child or children, someone with whom you were in an interdependent relationship with or your “legal personal representative” (which is the executor or administrator of your estate). If your superannuation death benefit is paid to your legal personal representative, the funds will be distributed as per your Will.
At Cronin Miller Litigation, we assist clients with:
- understanding how superannuation works as part of estate planning;
- providing advice on your death benefit nominations;
- making valid binding death benefit nominations;
- reviewing and updating nominations after major life events (e.g. marriage, divorce, children); and
- assisting in disputes when there’s disagreement over who should receive the superannuation death benefit.