Estate Planning

Yes, a binding death benefit nomination (BDBN) can be challenged in Australia if it is invalid — for example, if it wasn’t properly signed, witnessed, or made when the member had legal capacity.

Superannuation death benefits do not automatically form part of your estate if you die without a will — they are paid according to your super fund’s trust deed and the Superannuation Industry (Supervision) Act, usually to eligible dependants or your legal personal representative.

A 'dependant' for super death benefits in Australia includes your spouse (including de facto and same-sex partners), children of any age, and anyone financially dependent on you or with an interdependency relationship at the time of your death.

If your super fund trustee refuses to pay death benefits despite your valid binding death benefit nomination, you can complain to the Australian Financial Complaints Authority (AFCA) — and in some cases, seek court review — but only if the nomination is binding, made correctly, and still in force.

Yes, as a de facto partner you may be eligible to receive your deceased partner’s superannuation death benefits, provided you meet the legal definition of a de facto partner under superannuation law.

Yes, you can nominate a non-dependant (like a friend) to receive your super death benefits, but only through a binding death benefit nomination — and only if your fund’s trust deed allows it.

No, creditors generally cannot take your superannuation savings after bankruptcy in Australia, because superannuation is protected under federal law.

If you're bankrupt and earn above the income threshold, you must contribute half of the amount you earn over the threshold, after allowable deductions.

No — assets transferred to the trustee before discharge generally remain vested in the trustee and are not returned to you after bankruptcy is discharged.

Yes, personal injury compensation payouts are generally protected from creditors if you go bankrupt in Australia, as long as the money is kept separate and not mixed with other funds.

Yes, the bankruptcy trustee can likely claw back your house if you gave it away to family within 5 years before bankruptcy — especially if you were insolvent or didn’t receive market value.

When you go bankrupt in Australia, certain essential assets are protected from creditors, including household goods, tools of trade up to $4,000, and most superannuation. Your family home is generally not protected unless it falls under specific exemptions.

Yes, you may challenge the transfer under family provision laws or as a 'notional estate' transaction if it was made to defeat your potential claim for provision from the estate.

Yes, the transfer may be set aside if it was made to defeat a family provision claim or was unconscionable, but strict time limits and evidence requirements apply.

Yes, setting up a trust to protect assets is legal in Australia — but only if done properly and not to defeat creditors or avoid bankruptcy obligations.

Yes, but only under strict conditions — your SMSF can buy business real property from you or your related parties only if it’s 'business real property' and the transaction is at market value and on arm's-length terms.

You can complain to ASIC or the ACCC, seek compensation under the Australian Consumer Law, and potentially cancel the contract if misleading conduct occurred.

Investing all SMSF funds in one property does not automatically breach the sole purpose test, but it may raise concerns about diversification, liquidity, and compliance with the fund’s investment strategy — which must itself satisfy the sole purpose test.

As a trustee of a managed investment scheme in Australia, you owe strict statutory duties under the Corporations Act 2001, including acting honestly, exercising care and diligence, acting in the best interests of members, and complying with the scheme’s constitution and the law.

Trustees of Australian superannuation funds owe strict legal duties under the Superannuation Industry (Supervision) Act 1993 (Cth), including to act honestly, with care and diligence, in members’ best interests, and solely for core super purposes.

You can complain to ASIC, request a meeting of members, or apply to the court for removal of the responsible entity if it’s failing its legal duties.

Yes, a super fund can merge with another fund without your individual consent, provided it follows strict legal requirements under the Superannuation Industry (Supervision) Act.

You may have strong legal protections: unregistered managed investment schemes are generally illegal to offer in Australia, and you may be entitled to rescission (a full refund) or compensation under the Corporations Act.

If you are bankrupt in Australia, you cannot act as a director of a company or take part in its management without court permission for the duration of your bankruptcy — usually three years.

You may access super early for severe financial hardship only if you're receiving Commonwealth income support payments for 26 consecutive weeks and cannot meet reasonable and immediate family living expenses.