The Grass is Greener

Tim Henry

Join financial adviser Tim Henry as he discusses your everyday challenges, inspires and educates you to make awesome personal and financial decisions.

  1. Aug 13

    Who gets your Super when you Die?

    You might have a Will, but does that mean your super will end up where you want it to?Following recent ABC News coverage suggesting around 15.7 million Australians may not have a binding death benefit nomination in place, Tim takes a look at how super death benefit nominations actually work — and why simply naming someone may not be enough.In this episode, we cover:- Why your super doesn't automatically form part of your estate or follow your Will- Who you're actually allowed to nominate to receive your super- What happens if you want your super to ultimately go to someone such as a niece, nephew, sibling or friend- The difference between binding and non-binding death benefit nominations- Why some binding nominations expire and the role of non-lapsing nominations- The ABC News example where a member's nominated beneficiaries ultimately didn't receive his super- Reversionary beneficiaries for retirement pensions- Five simple things to check on your own super death benefit nominationThe key message is simple: don't assume that having a Will means your super is sorted.Take a few minutes to check your super account, see who you've nominated, whether your nomination is binding and current, and whether it still reflects what you actually want to happen.A little bit of planning now can provide much greater certainty about where your super ends up when you're no longer here. Connect with Tim:https://www.linkedin.com/in/henrytim/ABC News Articlehttps://bit.ly/4g8FWaS

    Who gets your Super when you Die?

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Join financial adviser Tim Henry as he discusses your everyday challenges, inspires and educates you to make awesome personal and financial decisions.

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