Get the free Binding Death Benefit Nomination form - IOOF

Sidetrack Form B 1 October 2012 Binding Death Benefit Nomination Please complete this form to make or amend an existing Binding Nomination. You should read the section Defendants paying benefits if

How to fill out binding death benefit nomination

How to fill out binding death benefit nomination:

1. Obtain the necessary forms: Contact your superannuation fund or seek assistance from a financial advisor to ensure you have the correct forms to fill out for a binding death benefit nomination.
2. Provide personal details: Fill out your personal details accurately. This may include your full name, date of birth, address, and contact information.
3. Nominate beneficiaries: Clearly indicate the beneficiaries who you wish to receive your superannuation death benefit. Include their full names, dates of birth, relationship to you, and their percentage allocation if you desire to distribute the benefits among multiple beneficiaries.
4. Seek legal advice if necessary: Depending on the complexity of your situation or if you have specific requests, it may be beneficial to consult a legal professional to ensure your binding death benefit nomination is legally sound and aligned with your intentions.

Who needs binding death benefit nomination:

1. Individuals with superannuation funds: If you have a superannuation fund, it is essential to consider completing a binding death benefit nomination form. This ensures that your superannuation death benefit is distributed according to your wishes after your passing.
2. Those with specific beneficiaries in mind: If you have specific individuals or dependents whom you want to benefit from your superannuation death benefit, a binding death benefit nomination form enables you to outline these preferences clearly.
3. Individuals seeking to avoid potential disputes: By completing a binding death benefit nomination, you minimize the possibility of your superannuation death benefit being distributed in a manner that contradicts your intentions. This can help prevent disputes among potential beneficiaries.

Note: It is crucial to review and update your binding death benefit nomination periodically, particularly after major life events such as marriage, divorce, or the birth of children, to ensure it remains current and reflects your wishes accurately.

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What is binding death benefit nomination?

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

Who is required to file binding death benefit nomination?

Members of a superannuation fund are required to file a binding death benefit nomination if they want to ensure that their superannuation benefits are distributed according to their wishes.

How to fill out binding death benefit nomination?

To fill out a binding death benefit nomination, a member must complete the form provided by their superannuation fund, specify the beneficiaries, and sign the form in the presence of witnesses.

What is the purpose of binding death benefit nomination?

The purpose of binding death benefit nomination is to provide certainty and direction regarding the distribution of a member's superannuation benefits after their death.

What information must be reported on binding death benefit nomination?

The binding death benefit nomination form typically requires information about the member's beneficiaries, their relationship to the member, and the percentage of benefits each beneficiary will receive.