Clients regularly ask whether when they die, they can give their superannuation to their grandchildren. The short answer is “no”. Superannuation death benefits can only be paid directly from your fund to your estate, your spouse, your children, people with whom you are in an interdependent relationship, or your financial dependents.
beneficiaries
Does a discretionary trust protect beneficiaries? Part 1
Dominique Perry from Townsends Lawyers has produced a two-part overview looking at whether a discretionary trust protects beneficiaries. This is the first in the series.
Best interest now best financial interests
Previously, trustees of self managed superannuation funds were required to perform their duties and exercise their powers in the best interests of the beneficiaries of the fund. This requirement was imposed by s52B(2)(c) of the Superannuation Industry (Supervision) Act 1993.
Hands off! Getting money back from a trustee
What happens when a trustee places the beneficiary’s money into their own account?
Minimising assets in an estate that is subject to challenge
Brian Hor at Townsends Law thinks there should be some thought given and preparation around seeking to minimise challenges to an estate by making pre-emptive decisions.
The pitfalls of a homemade Will
While homemade Wills and Do It Yourself Will kits may appear to be an ‘easier’, ‘timely’ and ‘cheaper’ alternative than instructing a lawyer to draft your Will the recent Victorian Supreme Court case of Re Hely; Application by Arbuthnot & Donaghue [2018] is a reminder of some of the pitfalls which may arise when a homemade Will has been prepared.
When gifting your estate, why stop at grandchildren?
Just how many generations of your descendants should you consider in your Will and is there an easy way to do it?