Superannuation and Wills
I spoke to a new client the other day. He is unsure if he has a Will. If he were to pass away without a Will, his principal asset is about $700,000 in superannuation would be split between his spouse and 4 kids: For tax-effective Wills, see Michael Paterson & Associates.
Superannuation Equalisation Provisions in Wills
Below is a sheet which shows the benefit of having superannuation equalisation provisions in a Will if there is at least one financial dependent sharing equally in an estate, e.g. no spouse, two children out working and one child at school. If the superannuation and other assets are split equally, such as in the first […]
Importance of Binding Death Benefit Nominations
Just as everyone should have a Will to ensure their assets are disposed of according to their wishes, and not according to the outdated Administration Act of 1903, everyone should have a binding death benefit nomination for their super and any associated life insurance, otherwise it is left to the discretion of the trustee. Couples […]