To be certain of who your superannuation money goes to on your death you should consider completing a Binding or Non-Binding Death Benefit Nomination Form. Biding nominations instruct your trustee on what to do with the proceeds of your super on death whereas Non-Binding nominations are more like a wish list to your trustee of how you would like your super to be distributed. Both have advantages and disadvantages as outlined for you in the following article by superguy.com.au
For advice on superannuation and SMSF's as well as your estate planning talk to Clarke McEwan Accountants and Business Advisors today on the Sunshine Coast 07 5475-4300 and in Brisbane 07 3842-3128.
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