As your family grows, it’s important to consider the impact on your superannuation. Taking a career break, growing your assets and funding school will all affect your savings. Talk to a financial adviser about strategies to grow your super, protect your assets and ensure your family is looked after, today and into the future.
FIRST, SOME IMPORTANT QUESTIONS
Does my superannuation offer insurances which cover me for death or injury?
You may be able to take out Death, Total Permanent Disability insurance and income protection as part of your superannuation. This lump sum payment may be used to pay off debts, medical expenses and provide an income for your family if you were no longer able to work.
What is a Binding Death Benefit Nomination?
A Binding Death Benefit Nomination (BDBN) enables you to nominate who your superannuation assets will be paid out to, should you die. Without this, your super funds may not be distributed according to your wishes. A BDBN is an essential part of your Estate Plan. However it is only valid for a period of three years and therefore needs to be updated to ensure it remains current.
Do I need a Will or an Estate Plan?
Whilst a Will covers many parts of your estate, it does not include all of it. To ensure your superannuation goes to your preferred beneficiaries, you should consider a Binding Death Benefit Nomination as part of your Estate Plan. Estate Plans also include your Will, your choice of guardians for your children and who you choose to be your Powers of Attorney.