Australian Finance Podcast Estate planning, super & SMSFs: What happens to your money?
Apr 2, 2026
Chamil Peiris, a senior financial adviser with experience at the Public Trustee of Victoria, specialises in estate planning, superannuation and advice for business owners and high-net-worth clients. He answers listener questions about funeral insurance payouts and leftover funds. He explains binding versus non-binding super nominations and how super links to wills. He compares SMSFs and industry funds for estate planning.
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Confirm Funeral Payout Details Before Spending
- Read the funeral policy and confirm the payout mechanics before spending leftover funds.
- Check total benefit, who the insurer pays (funeral home or you), and confirm any estate debts or final tax returns that could claim the money.
Funeral Cover Is Fast But Centrelink Treatment Differs
- Funeral insurance pays quickly and can ease immediate cash needs after a death compared with slower life insurance or estate administration.
- Prepaid funerals and funeral bonds can be better for Centrelink treatment, while insurance is often cheaper and quicker.
Get A Simple Will To Fix Life Admin Gaps
- Make a will even in your 20s to give someone legal authority to manage bank accounts, super and digital assets.
- Include practical life admin like passwords, cloud photos, and nominate an executor to avoid intestacy rules.
