I am the executor of my late Mum's estate and also a beneficiary of her superannuation, along with my siblings (all adult children). There is a question on the super death benefit form that we are unsure how to answer. 'Are you requesting to be considered as part of the estate' (if yes you are requesting the death benefit be paid to the estate rather than you the individual). Also, what are the tax implications of how this is answered by myself and my siblings.
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Hi @OLULAB,
I recently addressed a question about receiving a super death benefit. I'd recommend having a read as it may help you as well.
If you're a dependant under tax law:
- you can receive the super death benefit directly from the super fund
- typically, you wouldn't need to tick "Yes" to being considered part of the estate as the lump sum payment is not subject to tax.
If you're not eligible to receive the benefit directly:
- you’d typically tick “Yes” to being considered part of the estate
- You'd then receive your share via the estate’s distribution process.
If you're still unsure, it would be best to speak with a registered tax agent.
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