Superannuation and your Will

Short answer: Usually, no. Superannuation is held in trust by your fund under Federal law, so it does not automatically form part of your Estate. Your fund decides who receives it, guided by its rules and any death benefit nomination you have made.

How super is paid when you die

• If you have a valid binding death benefit nomination (BDN), the fund must generally pay the people you nominated.
• If you don't, the fund's trustee usually decides, following the fund's rules.
• If the money is paid to your Estate, it is then distributed under your Will.

What your RapidWills Will does

Wills prepared by RapidWills include a provision that if your superannuation becomes part of your Estate, it will be distributed according to the wishes set out in your Will. However, RapidWills cannot force a superannuation provider to pay your super into your Estate.

Check these with your fund today

• Do you have a nomination, and is it binding or non-binding?
• Does it lapse after a set period (some expire after three years)?
• Does it still name the right people after a marriage, separation or new baby?
• Life insurance held inside super usually follows the same nomination.

Self managed super funds

Self managed superannuation funds may have different rules. Review your fund's deed or have a lawyer provide advice.