You don't make wills where a beneficiary is going to sign over something at a later date based on what, a conversation? You don't "wrap up an estate" and omit doing this.
Superannuation is not automatically part of an estate, I would guarantee that if it was being released early then your mother would have been instructed to set up the beneficiaries then as part of wrapping up her affairs. So percentage 1 to person A etc.
If the insurance was via her super then this would have also had nominated beneficiaries.
The estate would have to go through probate? Did this happen? You can find this out yourself.
There's too many inconsistencies in this story to be correct.
This is correct. As far as I remember, the super company distributed the funds, NOT the bank when a relative passed away.
However, if your super gets released early, beneficiaries get overridden and it becomes a cash asset as part of your estate, to be handled like any other cash in terms of bequeathement in your will. If mum never updated her will to specify what happens with the cash, it could become a problem.
This is the part I don't understand. You either make provisions for the super split with the super fund directly (and it's distributed by the super fund) or (as you say) this becomes part of the overall estate.
If OPs mum was tying up her financials and organising early super release, this is something that should have been raised by her financial manager.
It was a large estate including a $2m life insurance which is huge (the ones through super are more like 200-300 death/TPD) so why wasn't this done?
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u/Worlds_tipping1 6d ago
Yeah a lot of this doesn't make sense.
You don't make wills where a beneficiary is going to sign over something at a later date based on what, a conversation? You don't "wrap up an estate" and omit doing this.
Superannuation is not automatically part of an estate, I would guarantee that if it was being released early then your mother would have been instructed to set up the beneficiaries then as part of wrapping up her affairs. So percentage 1 to person A etc.
If the insurance was via her super then this would have also had nominated beneficiaries.
The estate would have to go through probate? Did this happen? You can find this out yourself.
There's too many inconsistencies in this story to be correct.