Luke on 2CC – Misconceptions around super death benefits

The Strategy Stacker - Luke Talks Money

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired on Friday 16 February 2024 with Leon Delaney. Thanks for joining us on 2CC or your favourite podcast streaming service. This week’s show considers some of the common misconceptions people have around super fund death benefits. A passing of a loved one is a very difficult time. It’s not the time to be surprised about what happens to their super or pension account.

Key topics covered include:

• What is a binding nomination in regard to your super?
• Did you know your Will has no control over your super or pension account?
• There is a difference between a binding nomination and a non-binding nomination!
• Family law advice is not the same as a post office Will
• Is there tax on my super or pension if I die? It might not be tax-free!
• Can I leave money to anyone from a super or pension or does it need to be a relative?
• Do nominations lapse from super or pension accounts?
• What happens to a nomination in a divorce? Does it still apply? Yes – so update it like your Will
• Luke shares his top tips around managing the misconceptions around super and pension fund death benefits.

https://www.envisionfinancial.com.au/wp-content/uploads/2024/02/The-Strategy-Stacker-Luke-Talks-Money-16022024.mp3

Also available on Apple Podcasts and Spotify – ‘The Strategy Stacker – Luke Talks Money’

Have you thought about your own super and retirement planning?

If you’re concerned about what happens to your super or retirement account if you or your partner passes seek advice. Your financial planner can work with your family estate planning solicitor to ensure you put in place an estate plan that meets your goals.

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement. Make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your situation.

Luke will return to 2CC to talk about other ‘Money Matters’ soon. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.

We look forward to your company again and Luke’s book Smart Money Strategy is out now.