Why can't I say where my Superannuation Goes when I die

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Uploaded by on Sep 17, 2007

QUESTION: I recently asked my adviser what happens to my superannuation when I die.

My adviser immediately turned to my Self Managed Superannuation Trust Deed and told me that the trustee of my superannuation fund will decide who will receive my superannuation.

This didn't sit well with me. Although I trust my trustee, I want to decide who will get my superannuation.

My adviser told me I should update my trust deed to allow for a binding nomination.

What is a binding nomination and what should I know about them?

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