In this edition of It depends, partner Scott Hay-Bartlem discusses whether your superannuation death benefit can be paid to your siblings.
Video Transcript
Welcome to this edition of It depends, where we're talking about whether my superannuation death benefit can be paid to my brothers and sisters.
To whom can my superannuation death benefit be paid?
So, when you die, your superannuation death benefit can be paid to your spouse, your children, someone actually financially dependent on you, someone with whom you're in an interdependency relationship or your estate, where it goes under your Will.
Where do brothers and sisters fit in?
And this is the It depends. Now, we see lots of situations where people have nominated their superannuation to be paid to their brothers or sisters if something happens to them. But they don't fit neatly into one of those categories I've just outlined. They may be actually financially dependent upon you, that happens, they can pay to pay to them if they are. Sometimes they may be in an interdependency relationship, and again, we can pay to them because they are that. But those are quite rare. Often, if we want to pay superannuation to brothers and sisters, we need to have it coming to your estate and then have a clause in your Will that sends your superannuation out to your brothers and sisters. It's doable, but not necessarily very easy. Now, there's lots of issues about to whom your superannuation should be paid when you die, and how we do it. So, if you'd like more information about this, please contact a member of our super or our estates teams. Thanks for watching this edition of It depends.
Cooper Grace Ward is a leading Australian law firm based in Brisbane.
This publication is for information only and is not legal advice. You should obtain advice that is specific to your circumstances and not rely on this publication as legal advice. If there are any issues you would like us to advise you on arising from this publication, please contact Cooper Grace Ward Lawyers.
