The Trillion-Dollar Wealth Transfer
Your will might be crystal clear, but your superannuation can still go somewhere you didn’t expect. We dig into the detail Australians regularly miss: super usually doesn’t form part of your estate, so trying to “leave it in your will” can fail unless you’ve set the right nomination and structure with your fund.
We talk through binding death benefit nominations, who counts as an eligible beneficiary, and what happens if you nominate nobody and the trustee has to decide. Along the way we unpack superannuation death benefit tax for adult children, why the taxable component matters, and the small Medicare levy difference that can appear when payments go via the estate, balanced against the very real risk of a will challenge.
Listener questions take us into practical retirement planning Australia topics: what changes when employer contributions stop, how account-based pensions work, whether fees actually increase, and when it can be smarter to keep money invested inside super versus moving it to cash. We also cover Age Pension assets test basics, what “self-funded retiree” really means, and why cards like the Commonwealth Seniors Health Care Card can still be worth chasing for PBS savings. We finish with a reality check on SMSFs, property in super, and why diversification and legislative risk should be part of your plan.
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DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg