We all know we should combine our superannuation and get rid of those pesky super accounts hanging around from a previous job.
It is on our list of 'life admin' tasks that are important, but we never find the time to do.
Sure it is a waste of money (paying fees etc.) but did you know it can also cause trouble with your Estate?
Extra super accounts cause problems
Those little superannuation accounts can cause problems.
We are often instructed by the Executor that there are a few superannuation accounts and given statements for accounts with small balances.
Sometimes we write to those superannuation companies and discover that the account has simply run out of funds, and so the Executor is not getting an asset that they thought they were getting.
Sometimes we discover a small balance, but the paperwork involved can often be the same as the paperwork required for a large amount of money.
Help your loved ones
Save your loved ones some time and frustration by getting on top of your life administration tasks.
There is so much delay and paperwork surrounding estates and it makes it difficult for your loved ones to move on. Often these little life admin tasks make such a big difference.
Not only will you stop wasting money paying for multiples sets of fees, but you might find down the track that combining your superannuation has been a very valuable if you die unexpectedly or need to make a total and permanent disability claim.
Estate planning is more than Wills
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