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VIC No Nominee on Superannuation - Who is Entitled to it After Death?

Discussion in 'Wills and Estate Planning Law Forum' started by neirbod, 29 February 2016.

  1. neirbod

    neirbod Active Member

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    My son's father passed away and is separated from his current wife. She is not in the will but his son is. No nominee for payment on his superannuation. Who is entitled to it? Does it get split?
     
  2. Tim W

    Tim W Lawyer

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    1. Has there been a Grant of Probate?
      If so, then the appropriate person to handle all this is the executor.

    2. Superannuation is not actually part of the estate.

      That means that it's not an asset that a person can bequeath
      in the same way that they would gift an object like a house, a car, or a boat.

      It's not part of the estate because the manager of the super fund
      probably holds it as a trustee (that's how most super works).

    3. A person can leave instructions for the fund manager about what to do with the money in the event they die
      (you sometimes here this called "nominating beneficiaries").
      It's quite common for the deceased to have done this as part of "signing up" to the super fund, back when.

    4. If your son is an adult, then he (not you) might be able to discuss item 3 directly with the fund manager.
      But you may find that the fund manager will only deal with the executor.

    5. Consider that there may be a Life Insurance product attached to your son's father's super.
      There may also be Life Insurance products attached to his credit card(s),
      or to other financial products, or as a member benefit of belonging to an organisation
      such as a Trade Union.

    6. Bear in mind that his current wife may be able to make a thing called a Family Provision Claim.
      This is a relatively new thing in Victoria, and not every layman (non-lawyer/ "normal person")
      knows much about them.
     

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