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Welcome to the August issue of Financial Insights and Updates.
Our video this month, ‘Superannuation death benefits dispute sparks questions on super funds’ ‘governing rules’‘, discusses the legal dispute that erupted over the bequeathment of the superannuation death benefits of deceased Victorian court clerk Ashleigh Petrie, where the super fund did not comply with the nomination made by Ashleigh because it did not comply with the governing rules of binding nominations. Our article ‘A look inside superannuation death nominations‘ provides a similar example and then looks at who can be nominated as a beneficiary and about donating to charity.
Other interesting articles this month include ‘Mistakes to avoid when markets are turbulent’ which provides 3 mistakes that are easy to avoid and yet could be costly, and ‘The impact of tax deductions on investment property‘ which looks at tax deductions and offsets available for investment properties.
As always, feel free to forward any articles to friends and/or family that you feel may benefit from the information.
In signing off, please remember that we are always available to answer any questions or queries you may have and to come speak with us before making any major investment decisions.
Warm regards,
The Wealth Connexion Team
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Feature Video:
Superannuation death benefits dispute sparks questions on super funds’ ‘governing rules’
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We have seen versions of this scenario many times:
Josh is 32 years old. A few years ago, after many years of saving, Josh moved into his first home, leaving his mum who had raised him as a single parent. Josh had signed a binding death benefit nomination giving his superannuation to his mum, but he did not make a Will… after all, he didn’t have many assets so he reasoned that he didn’t need a will – after he is only 32!
Soon after, Josh meets a new partner who moves in with him – quickly. Then, just five months later, very sadly, Josh passes away suddenly.
Who do you think would – or should – be left with his superannuation?
[/vc_column_text][vc_btn title=”Read more” style=”custom” custom_background=”#ae9257″ custom_text=”#ffffff” align=”center” css=”” link=”url:https%3A%2F%2Fdrive.google.com%2Ffile%2Fd%2F18dUZb-MztXDjwZZBaimhTQy7S7n9arae%2Fview|target:_blank”][vc_separator border_width=”3″][vc_single_image image=”7123″ img_size=”large” alignment=”center” css=””][vc_custom_heading text=”Mistakes to avoid when markets are turbulent” font_container=”tag:h4|text_align:center” use_theme_fonts=”yes” css=””][vc_column_text css=””]
These three common mistakes are easy to avoid. Making them could be costly.
Sharp down turns on global financial markets are always unsettling.
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Here are four basic retirement questions many people struggle to answer correctly.
They are four fairly basic statements related to Australia’s retirement income system that every working and retired person should ideally be able to answer correctly as either true or false.
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Having your own super fund provides more control, but they’re not for everyone.
The number of Australians choosing to manage their own superannuation investments – both before and during retirement – has been progressively increasing over time.
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Property is a popular investment asset that contains a number of significant advantages including income generation, capital growth, resistance to major market downturns and substantial tax deductions.
Although tax deductions and offsets shouldn’t be the key reason to invest in property, if you have purchased a property make sure that you use every concession available to you.
[/vc_column_text][vc_btn title=”Read more” style=”custom” custom_background=”#ae9257″ custom_text=”#ffffff” align=”center” css=”” link=”url:https%3A%2F%2Fdrive.google.com%2Ffile%2Fd%2F1zvdv9SuZDaU1URJf8BMWQdnW74UylKwZ%2Fview|target:_blank”][vc_separator border_width=”3″][vc_single_image image=”7127″ img_size=”large” alignment=”center” css=””][vc_custom_heading text=”Why financial wellbeing is a pillar of good health” font_container=”tag:h4|text_align:center” use_theme_fonts=”yes” css=””][vc_column_text css=””]
Much like exercise and eating well, your financial wellbeing is key to living a happy and healthy life.
So what is financial wellbeing and how can you improve yours?
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Income protection insurance pays part of your lost income if you’re unable to work because of a disability caused by illness or injury. It can help pay the bills so you can focus on getting better.
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Disclaimer
This information is of a general nature only and neither represents nor is intended to be specific advice on any particular matter. We strongly suggest that no person should act specifically on the basis of the information contained herein but should seek appropriate professional advice based upon their own personal circumstances. Although we consider the sources for this material reliable, no warranty is given and no liability is accepted for any statement or opinion or for any error or omission. Past performance is not a reliable indicator of future performance. Please refer to the Product Disclosure Statement (PDS) before investing in any products mentioned in this communication. This information is current as at the date of publish.
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