Following the death of a partner, you may need to understand more about investments you own.

When a member of a couple dies the survivor usually inherits assets previously held in joint names. If your partner had superannuation or a life insurance policy, you may also be entitled to a beneficiary’s payment. You need to contact the relevant superannuation and/or insurance organisation and find out if you could be eligible for any payments.

You should advise the Australian Government (Human Services) of any changes to your income and assets as they may have an effect on any payment you receive or become eligible for.

You should also carefully consider the implications of passing on assets to children or other family members and friends and bypassing yourself, as this can effect your asset position and may result in changed payment rates.

Relatives and friends do not have to pay the debts of the person who has died unless the debts are in joint names. Debts are usually paid from the deceased’s ‘estate’.

If you would like assistance in working out a budget, managing your financial affairs or you are in financial trouble, you can speak to a financial counsellor by contacting any of the following:

  • your local Community Information and Referral Service
  • a Welfare Rights Centre
  • rural financial counselling services
  • Financial Counselling Australia

If you require a Financial Planner please use our Business Directory Search facility.