Here’s what may happen to you savings, super and HECS debt if you're young and die without a will
abc.net.au/news/what-happens-without-a-will-hecs-debt-savings-superannuation/102014544Few people like to think about their own death, especially if they're young and without any obvious health problems.
"Generally speaking, when you start developing some assets it's a good time to start thinking about your will," Mr MacDougall told ABC News. The executor or administrator of your estate will need to identify all of the assets and liabilities of your estate and determine if there are sufficient assets to repay the debts before making any distributions to the beneficiaries.
Unlike direct assets that can be accounted for in your will, in order for the right person to receive your superannuation death benefits, a"The way superannuation works is that in the event that someone does not have a binding death benefit nomination, in most cases you leave it up to the sole discretion of the trustee of your super fund to decide who receives that benefit," Mr MacDougall says.
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