Tag: EstatePlanning

As detailed in part 1 of our Superannuation Estate Planning series, superannuation death benefits can only be paid to a member’s legal personal representative(s) -LPR- and/or their dependants as defined by the Superannuation legislation (SIS). Although these parties may qualify as a superannuation dependant the benefit may be subject to tax. The tax treatment of death benefit payments relies upon whether the beneficiary qualifies as a dependant for tax purposes. The below table summarises both Superannuation (SIS) dependants and tax dependants.

This month’s Wealth Pipeline is on Power of Attorneys.  A power of attorney (PoA) is a formal document giving another person the authority to make legally binding decisions on your behalf.  There are two types of power of attorney: general power of attorney and enduring power of attorney.  Broadly, an PoA authorises an attorney to do whatever legally and/or financially the donor of the power can do.