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De facto death duties - do benefit "triggers" and "tipping out" provisions work?

Publication date: 19 Nov 14 | Source: AUSTRALIAN SUPERANNUATION LAW BULLETIN

Issue: Vol 26 No 9 October 2014

Pages: pp. 109-112

Abstract:

If it were possible to treat a superannuation benefit paid out following the death of a member as a "superannuation member benefit" because it had crystallised and become the "property" of the member prior to his or her death, then such benefit would be payable to the member's deceased estate. The "death benefit" may not then be a death benefit at all and the provisions under the fund's governing rules about the payment of a death benefit may not apply. Further, the deceased member's testamentary wishes expressed in a will may then, contrary to popular commentary, be very relevant in determining who receives the member's superannuation benefit.

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Author profile

Suzanne Mackenzie CTA
Photo of author, Suzanne MACKENZIE Suzanne is a Barrister specialising in financial services, superannuation, trusts and equity, taxation and general corporate and commercial work. - Current at 23 September 2019
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