What happens to your super when you die?

What Happens To Your Super When You Die?

The macabre side of financial planning – it’s not just insurance cover that leads us down a morbid path in this business, it’s also your estate planning.

Estate planning is a necessity whether we like it or not. Sometimes you just have to sit down and think about what will happen when you die (the practical side, not the “is there an afterlife” side).

It’s mainly to ensure that those you leave behind are looked after and your wishes are adhered to.

What does this have to do with super?

You hear us banging on all the time about your beneficiary nominations and how important they are, but do you actually know why? The most crucial thing that a lot of people don’t understand is that your super may not form part of your estate when you die, meaning what’s in your will doesn’t impact it. Considering super is often a person’s most valuable asset (especially as most of us have been building it since we were 14!), you definitely want to make sure that it’s left to the people you want to have it.

The Facts.

To make our job super easy in getting the info over to you, our friends at Colonial First State have put together one of the best fact sheets we’ve seen on what happens to your super. It’s got all the facts, breaks it down into who you can nominate and what those nominations involve, and also goes through an explains a lot of the jargon and key words/phrases that you need to know.

You can get a copy here.

Have a read through, and as always let us know if you want to discuss any of the above further. If you want to meet with us and you aren’t already one of our wonderful clients, you can book directly in with Kristopher here. 

You can reach us via email at hello@wealtheon.com.au or via phone on 1800 577 336. If you want a hand or to know what your current nominations are, just give us a shout!

Information on this site may be regarded as general advice. That is, your personal objectives, needs or financial situations were not taken into account when preparing this information. Accordingly, you should consider the appropriateness of any general advice we have given you, having regard to your own objectives, financial situation and needs before acting on it. Where the information relates to a particular financial product, you should obtain and consider the relevant product disclosure statement before making any decision to purchase that financial product.

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