The five-minute form that could save your family heartache

Brought to you by Aware SuperJaymie HooperNovember 11, 2026 — 4:30amOutside the family home, superannuation can be one of your largest assets, but that doesn’t mean it’s covered by your will.“Many Australians are surprised to learn that super doesn’t automatically form part of a person’s estate or follow the instructions in your will, which is why beneficiary nominations are so important,” explains Jess Rix, head of protect (insurance and claims) at Aware Super.A quick check can help ensure your super goes to the right people.iStockA beneficiary is the person (or people) you nominate to receive your superannuation when you pass away. If you don’t have a super nomination, your fund will decide where the money goes.“Nominating a beneficiary is the only way to have a say in who inherits your superannuation,” says Adam Lubofsky, founder of Safewill.“People write a will and assume it covers their super, but unless you’ve made a nomination with your fund, that will isn’t operative in terms of who receives your death benefit.”Updating your beneficiary nomination is a straight-forward task, but it’s one that many Australians put off, which can be detrimental to their families.Without a clear nomination, the process of claiming your super can take a lot longer for your loved ones. They may be required to provide additional information, which can cause them unnecessary stress and uncertainty.“Checking your beneficiary nomination is one of those rare financial tasks that can take less than five minutes but could make a world of difference to the people you leave behind,” Rix says.To update your beneficiary nomination, simply contact your super fund. By setting aside a few minutes, you’ll not only help provide greater clarity for your loved ones, you’ll also protect their financial security, too.“Some people rely on super benefits to live and pay for expenses such as funeral costs, insurances, mortgages and engaging with lawyers,” Lubofsky says. “The process for claiming a death benefit is less painful when there is a valid nomination in place.”Aware Super’s Jess RixAfter you’ve selected a super beneficiary, you’ll also need to decide if your nomination will be binding or non-binding, as this can impact how closely your super fund follows your requests. The key differences are:Binding nomination“Think of this as a formal instruction,” Rix says. “If your nomination is valid, the super fund must follow your wishes and pay your super to the person or people you’ve nominated.Aware Super offers binding non-lapsing nominations, which stay in place until you choose to change them. These can be completed online.”According to Lubofsky, a binding nomination provides certainty around who receives your super, which can be particularly helpful if you have more complex circumstances.Safewill co-founders Adam Lubofsky and Dan Bennett.Louie DouvisNon-binding nominationUnlike a binding nomination, which must be followed, a non-binding nomination acts more like a guide. “You’re telling the super fund who you would prefer to receive your super, but the trustee makes the final decision based on your circumstances, superannuation law and fund rules,” Rix explains.Because of this, Lubofsky says a non-binding agreement may be helpful if your personal circumstances are in flux, such as during a separation or period of family estrangement.Remember to reviewOnce you’ve nominated a beneficiary, Lubofsky says it’s best to review the details at least once a year, ideally at the same time as your will. This ensures both sides of your estate planning are covered and still align with your wishes.“You should also think about reviewing your super nomination if there’s a change in your personal circumstances, such as marriage or kids, and you want to change who you have listed as your beneficiary,” Lubofsky adds. He also notes that some nominations lapse after a certain amount of time, so it’s worth checking whether it’s still valid.When it comes to making a death benefit nomination, Rix says it’s important to remember you can’t nominate just anyone. “Superannuation law generally limits nominations to eligible dependents or your legal personal representative (estate),” she says.You can nominate as many beneficiaries as you’d like, so long as they’re eligible, and the combined portions add up to 100 per cent.Finding peace of mindAfter spending years building up your super balance, you deserve a say in where it goes should the worst happen. This holiday season, give yourself and your loved ones the gift of certainty by taking a few minutes to update your beneficiary nominations. This way, you can head into the new year knowing everyone will be taken care of, even if you’re not around.Advice given in this article is general in nature and is not intended to influence readers’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making any financial decisions.Expert tips on how to save, invest and make the most of your money delivered to your inbox every Sunday. Sign up for our Real Money newsletter.From our partners