this post was submitted on 06 Jul 2023
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I won't answer your question, but one important thing I'll add is that your super is generally distributed separately to your will. The 'nomination' you make when setting up your super account isnt worth shit. They will ignore it in favour of distributing your money according to their Trust Deed, which favours expectation of ongoing financial support over anything else. ie. Your dad dies, you're his nominated beneficiary, but you aren't reliant on him - and he's been living with a partner for two years, sharing bills etc. New partner gets 100% of the money.
You need to go out of your way to set up a BINDING nomination, and typically you need to renew this yearly.
Well that's sneakily stupid and fucked up, thanks for the PSA. How does one set up and renew a binding nomination - I'm guessing I have to contact my super directly?
Yes, they will have a special form you will need to fill out, so call and ask them to send it to you (and have them explain what I've outlined here, for your information)
Thanks mate. This is really useful info, I appreciate it!