Wills And Superannuation
Understanding Wills and Superannuation in Adelaide, South Australia
When it comes to estate planning in Adelaide, South Australia, the interaction between wills and superannuation is crucial. Wright Street Lawyers are client-focuseds in this area and can provide you with the guidance you need to ensure your assets are distributed according to your wishes.
Wills
A will is a legal document that outlines how you want your assets to be distributed upon your death. It allows you to specify who will inherit your property, money, and possessions. Without a valid will, your estate may be distributed according to intestacy laws, which may not align with your preferences.
Why You Need a Will
Having a will is essential to ensure that your assets are distributed as you desire. It provides clarity and minimises the risk of disputes among your beneficiaries. A will also allows you to appoint an executor to manage your estate and make important decisions on your behalf.
Superannuation
Superannuation is a form of saving for retirement in Australia. It is important to understand how your superannuation is treated upon your death and how it interacts with your will.
Binding Death Benefit Nomination
A Binding Death Benefit Nomination (BDBN) allows you to specify who will receive your superannuation benefits upon your death. It is crucial to keep your BDBN up to date to ensure that your benefits are distributed according to your wishes.
Frequently Asked Questions
1. Can I include my superannuation in my will?
Superannuation benefits are not typically included in your will. Instead, you can make a Binding Death Benefit Nomination to specify who will receive your superannuation upon your death.
2. What happens if I die without a will in Adelaide, South Australia?
If you die without a will in South Australia, your estate will be distributed according to intestacy laws. This may not align with your wishes, so it is important to have a valid will in place.
3. How often should I update my will and Binding Death Benefit Nomination?
It is recommended to review your will and Binding Death Benefit Nomination regularly, especially after significant life events such as marriage, divorce, or the birth of children. Wright Street Lawyers can assist you with updating these documents as needed.
Contact Wright Street Lawyers Today
For client-focused legal advice on wills, superannuation, and estate planning in Adelaide, South Australia, contact Wright Street Lawyers. Our experienced team specialises in family law, estate planning, probate, and criminal defense. Let us help you secure your legacy and protect your assets.
Call us at (08) 1234 5678 or email info@wrightstreetlawyers.com.au to schedule a consultation.
