Hi IM's. After some opinions on here. No judgememt please as im just asking the question to suss things out. My husband and are are looking at doing our willz. I have no children, so therefore everything of mine would go to hubby. He has 2 kids from previous marriage. My thought is that they would get 50% of his super. Is this fair? I feel as his wife i should also know i would be ok if something happened. Thoughts?
7 Replies
You have to work it out with him. This has been discussed before, the issue is that what he leaves to you may never (probably won't) trickle down to them. So as a parent you need to make sure your kids are taken care of. As an adult with a spouse you also need to make sure you're not leaving them in the lurch. It's tricky but you need to know each other's thoughts and be on board with the plan.
You also need to look at the whole estate, its more likely the property stays with you if you own together.
Yes i agree the kids need to be looked after. And i am more than happy contributing to their loves. I do that now. We dont own property together so the state isnt worth much. And most of my pay now goes towards us as a whole family
So he still needs to cover them in the event of his death. You need to sit down and work it out, maybe it comes down to you looking after yourself more now, as you and them would owe each other nothing in the event of a split or passing.
First, Super isn't covered by your will. It's separate. You both need to do a binding death nomination that doesn't expire. Do it now. Beneficiary is just a suggestion & anyone can put in a claim & win.
For other stuff a solicitor is your best advice. They have options & legal ideas you haven't thought of. My SIL made her H take out a separate insurance for his kids to ensure she didn't risk losing half her house to the step DC (& controlled by the ex).
Binding nominations expire every 3 years - there's no way around this.
Non lapsing binding nominations don’t, but generally only retail funds offer them, most of the industry funds lapse.