How to ensure your superannuation will be paid to your intended beneficiary
Twenty-three-year-old, Ashleigh Petrie nominated her mother as the sole beneficiary of her super. However, Ashleigh’s 63-year-old fiancé was successful in claiming her full super balance after she died in a car accident. Ashleigh was in a relationship with her fiancé, Rodney Higgins for only 7 months (living together for four of them). This story highlights the pitfalls and limitations to super fund death benefit nominations.Superannuation doesn’t form part of your willA super fund is a type of trust. That means that no one has entitlement to any super funds until the trustee makes an…
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