What will the superannuation fund trustee do

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Reference no: EM132825208

Ben is 29 years of age. HE has total accumulated superannuation balance of $150000. AS a member of the fund, he is automatically eligible for $100000 standard group term life insurance, available to all employees. Ben owns no other assets. He has recently married Emma, but they do not have any children yet.

Problem a. Does Ben need a will? Explain your response

Problem b. What total amount would be paid out from Ben's superannuation fund in the event of his death?

Problem c. Who are the possible beneficiaries of Ben's superannuation fund and would they likely be classified as dependent or non-dependents for superannuation purpose.?

Problem d. What will the superannuation fund trustee do if Ben does not nominate any death benefit beneficiary(is) in the event of his death?

Problem e. Is the trustee bound if Ben completes a non-binding nomination?

Problem f. How would Ben's estate distributed if he has no will in place?

Problem g. Assume it is three years on and Ben now has a two year old daughter at Tifanny. Explain to Ben what a testamentary trust is and the reasons why he may wish to consider establishing one

Reference no: EM132825208

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