ESTS008 How to Ensure Your Savings Benefit Your Loved Ones (648 words)

This article shows with examples why it is so important to plan ahead to control your superannuation when you are no longer there to do it.

Most of us work hard to save for our retirement, and thanks to tax concessions and compulsory contributions, superannuation often forms a large part of retirement savings. But it's essential to understand who controls where your super goes if you pass away and how to ensure your loved ones receive the inheritance you want them to have in the most effective way.

It's a common misconception that you can include your superannuation as part of your Will. However, this is not the case, and you need to take action before you pass away to make it possible.

Here are a few key things you need to consider if you want to keep control of your superannuation benefits.