🔍 #Superannuation #EstatePlanning #NextOfKin
Hey there, I’m sorry to hear about your loss. Dealing with the aftermath can be overwhelming, but it’s great that you’re starting to look into the next steps. Here’s what you might expect when trying to organise getting your recently passed away Dad’s super:
– As the senior next of kin, you may have some responsibilities in this process.
– Since there was no will or listed beneficiaries, the situation can get a bit complicated.
– You may need to involve all four siblings in signing for the release of the superannuation.
– If you can’t locate the other siblings, it could potentially delay the process of releasing the funds.
One possible solution could be looking into legal advice to navigate through this situation and ensure that everyone’s rights are protected. It might also be helpful to contact the superannuation fund directly to inquire about their specific procedures in cases like these. Stay strong, and take things one step at a time. Feel free to share any insights or advice you may have on this topic! 💬 #Support #EstateManagement
You need to go through a lawyer so this does not come back and bite you in the ass later down the track.
Definitely lawyer up and cover your arse, this could get nasty.
Good luck and sorry for your loss.
You don’t need to pay a lawyer.
Call your dad’s super fund and they will walk you through it.
You need a lawyer. Also look up intestate laws in your state.
Note that super has its own laws.
I’ve been through something similar recently (although I had a will and executor status. It all sucks balls and I’m sorry for your loss.
With no will, You’ll need to get what’s called Letters of Administration to be able to manage the estate.
Then super depends on if he has binding nominations or anything like that.
Super has it’s own rules and laws around what happens and it doesnt automatically become part of the estate.
Everything else it’s up to the group to decide what happens with the residuals, how to sell whatever needs to be sold etc
Also, check with all the law societies. I know my brother did this to look for a will for my dad, they can do some kind of check with all the actual law firms and stuff
Get a lawyer. You’ll need to apply for grant.
You do not need a Will or LOA for superannuation and anyone that tells you differently is wrong.
Superannuation is dealt with OUTSIDE your will.
When you set up the super fund, you nominate the beneficiary and what percentage they get.
Reminder – it has nothing to do with the Will.
So mail a certified copy of the death certificate to the superfund and go from there. If you’re a beneficiary, they’ll pay you.
End of story.
Does he have property? Cash? Anything of value aside from super? Have you spoken to the super company? Did he have a binding nomination?
My brother died in his mid 30’s, own home, super and life insurance. No partner or children. No will.
Mum and Dad as his next of Kin got everything. Dad left my Mum when we were very little and since he’s not a monster he signed over his share of everything to me.
As neither Mum or myself were my brothers dependants we had to pay tax on the super and life insurance I think. Maybe the house sale too, but I can’t really remember.
Depending on the amount the institution deems to be the threshold, presuming its a retail fund and not self managed, you might need to apply for probate, which will cost about $5k-$6k. They’ll stretch out paying out any money for as long as they can by using stupid excuses like we can’t open your attachment or we need this or that, and half the time it’s just still tactics.
Good luck, be patient, and sorry about your loss.
Check to see if there are any insurances payable
within your father’s super.
I believe passing super in concessional by death incurs a tax unless he recycled it to non concessional
Look into obtaining letters of administration. This may be called something slightly different depending on the state/territory you are in.
It’ll allow you to then legally deal with your father’s assets in the absence of a will.
Also, despite there being no will, did your father happen to complete a binding death benefit nomination in relation to his super? His superfund may answer this question once letters of administration have been granted.
My father had a binding nomination in with his super fund for it to go to his estate (dealt with by the will). The super fund still insisted on contacting anyone that might be a dependent and having them sign off on any claim before they would release it.
Daaayymm daddy was busy mang
Contact his super fund and provide them with a copy of the death certificate and they’ll let you know what info they need and send you all the forms required. Unless he had a binding beneficiary nomination for certain valid people (spouse, minor children or financial dependents), the fund trustees will likely want to pay the superannuation plus any insurance to the minor children only unless you and the other adult child can show financial dependency on him at the time of death.
In terms of superannuation most of it, if not all of it, will go to his minor children.
Oh wow. Sorry for your loss. It might be complicated, given your much younger siblings exist and assuming you want to consider them. Get a lawyer because this will go through the court to appoint an administrator (you), they’ll step you through it and help you to ensure there’s something to share with siblings if they present themselves.
Sorry for your loss. This happened to me a few years ago, father died suddenly, no will. As the eldest child to my father who was no longer married, all I had to do was produce the death certificate, divorce certificate from him and my mother, and a stat dec to the superannuation board and it was done. Similar thing for bank account closure etc.
I didn’t use a lawyer I literally just called his fund and asked what I needed to do. This was 2015, unsure if any different means now.
Contact the super fund. They deal with this all the time.
Sorry for you loss
Without a will, getting access to anything is going to be a shit show
Expect no superfund will talk to you due to privacy.
You need to go through probate
Have patience and it will eventually prevail.
You’ll need to get letters of administration, so you can be executor and have that paperwork so you can sign for everything. Absolutely the first step. Can’t do anything without it. Unless you want to forfeit everything, find a probate centre and get some help applying for it.
Check your local regs but I’m pretty sure you don’t have to find any family.
Only put out a notice and wait x days for any other claimants.
Make sure you get the letters of administration from the supreme court. Some super companies won’t even deal with you until you have them.
As the legal next of kin you’re legally entitled to all of it. But be prepared for the tax on it and maybe put some aside if anyone pops up.
An accountant that deals with final estate tax returns will help. We didn’t need any lawyers but might be worth it if you think any of your family will fight it.
I had the exact same scenario when my dad died – car was his only asset, no will, he had a grand total of $11k in super. I called his super company and sorted it out directly but it took nearly a year to get that measly amount sorted. He was still legally married to my mum even though they had seperated 20 years prior, my siblings and I all had to sign paperwork saying we wouldn’t make a claim to it (we didn’t care where the money went, as long as the super company didn’t get to keep it!). It’s doable, you’ll just need to be persistent and patient and work with whoever the super company assigns to your case. Good luck!