When lodging a superannuation death benefit claim, it is important that the material lodged provides information regarding the financial and non financial interdependency between the Deceased and the person claiming the Deceased’s superannuation monies (the “claimant”).
Some of the considerations of a superannuation trustee or board when determining the level of interdependency include:
- The relationship between the Deceased and the claimant;
- Any shared finances between the deceased and the claimant;
- Any financial and non financial support being provided by the Deceased to the claimant;
- Any living arrangements and shared household expenses between the Deceased and the claimant;
It is important that when lodging a superannuation death benefit claim, a person correctly demonstrates the level of interdependency between the Deceased and the Claimant, with the appropriate supporting documentation.
Superannuation is critical when considering your estate planning, so as to avoid the risk of claims, and to ensure your estate is distributed in accordance with your wishes.
If you require assistance with proving the level of interdependency in a relationship with a loved one who has passed away, please do not hesitate to contact me.