Incorporating Superannuation into Estate Planning: Common Challenges

This paper was presented by Phil Broderick at the Legalwise Seminar on Will Drafting and Estate Planning, held on 12 August, 2014.

Superannuation benefits do not automatically form part of a member’s estate upon the death of the member. As such, a member’s will cannot deal with their super benefits, unless the benefits are paid to the estate of the member.

Consequently, a person’s super benefits must be dealt with separately in the estate planning process. Rather than dealing with super in a person’s will the tools for dealing with super death benefits are binding death benefit nominations (BDBNs), reversionary pensions, and the control of the decision making process through the control of the super fund trustee.

This paper examines how to incorporate superannuation into the succession process. In particular, the use of BDBNs and reversionary pensions and the interaction between the two and the succession of the super fund trustee is examined.

Download a PDF version here: Incorporating Superannuation into Estate Planning: Common Challenges

For further Information please contact:

Phil Broderick
Sladen Legal
03 9611 0163