Many people think that once they have a Will every asset is taken care of.

However, as mentioned previously, not every asset you own will be distributed by your Will. One of these assets is your superannuation.

Ensuring the proceeds of your superannuation go to the person you want upon your death is relatively simple, yet often overlooked. Importantly, superannuation differs from most other investments as it's not necessarily distributed via your Will when you die.

Instead, you may be able to nominate the desired beneficiaries of your superannuation through your super fund. Any beneficiary must be a dependant - defined under superannuation laws as a spouse, a child of any age or anyone who has an interdependency relationship - at the time of death or you can nominate your legal personal representative (the executor or administrator of your estate). Non-dependants can only receive super death benefits via the deceased's estate.

Importantly, your superannuation balance includes both your investment balance and any proceeds of life insurance that may be held within the super fund. Therefore, it can be a reasonable sum of money.