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Binding death benefit nomination form Binding death benefit nomination fact sheet A binding death benefit nomination is a written direction to Australian Ethical Superannuation Pty Ltd as the Trustee

How to fill out binding death benefit nomination

How to fill out binding death benefit nomination

1. To fill out a binding death benefit nomination, follow these steps:
2. Obtain the necessary form from your superannuation fund or their website.
3. Read the instructions on the form carefully.
4. Fill in your personal details such as your full name, date of birth, and address.
5. Specify the beneficiaries you want to receive your death benefits. Provide their full names, dates of birth, and their relationship to you.
6. Indicate the percentage or specific amount you want each beneficiary to receive.
7. If there are multiple beneficiaries, ensure the percentages or amounts add up to 100%.
8. Date and sign the nomination form in the presence of two witnesses who are over the age of 18 and not beneficiaries.
9. Inform your superannuation fund that you have completed a binding death benefit nomination form and submit the form to them.
10. It is recommended to review and update your binding death benefit nomination regularly to ensure it reflects your current wishes and circumstances.

Who needs binding death benefit nomination?

1. Individuals who want to have control over the distribution of their superannuation benefits after death should consider a binding death benefit nomination.
2. It is particularly important for individuals who have specific wishes about who should receive their superannuation death benefits and want to ensure their wishes are legally binding.
3. A binding death benefit nomination can be useful for individuals who have complex family situations, dependents with special needs, or those who want to provide for specific individuals or organizations.
4. Having a binding death benefit nomination in place can help avoid disputes or challenges over the distribution of your superannuation benefits.

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What is binding death benefit nomination?

A binding death benefit nomination is a legal document that allows a superannuation fund member to specify who will receive their superannuation balance in the event of their death.

Who is required to file binding death benefit nomination?

Any superannuation fund member who wants to ensure that their superannuation balance is distributed according to their wishes upon their death is required to file a binding death benefit nomination.

How to fill out binding death benefit nomination?

To fill out a binding death benefit nomination, a superannuation fund member must complete the necessary form provided by their superannuation fund, specify the beneficiaries, sign and date the form, and submit it to their fund.

What is the purpose of binding death benefit nomination?

The purpose of a binding death benefit nomination is to provide certainty and ensure that a superannuation fund member's superannuation balance is distributed according to their wishes upon their death, without the discretion of the trustee.

What information must be reported on binding death benefit nomination?

A binding death benefit nomination must include details of the nominated beneficiaries, their relationship to the superannuation fund member, and the percentage of the superannuation balance each beneficiary is to receive.