Question 1

How do I ensure my lazy husband gets nothing when I kick the bucket?

Your first strategy should be to try to live longer than him!

It sounds like you need some professional estate planning advice (and maybe marriage counselling?). However, at a high level, you can take the following into account:

• Any joint assets you hold will pass to the surviving owner.
• If you hold an asset in your own name, then it will form part of your estate, and it should be dealt with via your will.
• With superannuation, the super trustee can pay the proceeds direct to a beneficiary. Therefore, ensure you have your nominations up to date. Otherwise, it can get paid to your estate and be dealt with via your will.
• The same is true for proceeds of life insurance, i.e. direct to a beneficiary or to your estate.

However, there are restrictions on who you can nominate as a superannuation beneficiary, and wills can be challenged. Therefore, it’s important to get specialist advice in this area.

Question 2 

Hi Craig, I would like to put my remaining cash into a low-cost index share fund.

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How do people live off the profits of this? What are the practicalities in accessing the money made? Can you just dip in here and there for some cash?

Thank you

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Hello,

First, there are a few ways to access index share funds. A lot of super funds offer them, but if I interpret your question correctly this is for non-super money.

The way most people invest in index share funds is via a managed fund or Exchange Traded Fund (ETF).

They aim to simply track a sharemarket index. As there is no “active” management (stock picking), these types of funds can be offered very cheaply.

The next decision is which sharemarket index to track?

Popular options are the broad Australian share market such as the ASX200 or ASX300 (which tracks the largest 200 or 300 Australian companies). Or the MSCI (which tracks around 1300 of the world’s biggest companies), or the S&P500 (which tracks the US sharemarket).

There are hundreds of different options, including smaller companies and ethically conscious indices as well.

The funds pay regular dividends, similar to interest. The Australian index funds tend to pay higher dividends and may also come with some franking credits.

The value of your investment will go up and down depending on the indices it is tracking. The funds tend to be very flexible and you can usually make withdrawals at any time, as well as set up regular or irregular deposits.

Question 3 

Hello, I retired in 2018 and went into pension mode.

Two years ago I opened accumulation accounts and transferred $27,500 at year-end 2024 and $30,000 at year-end 2025 and plan to do so again at year-end 2026.

I have come into an inheritance and I would like to put it into super. Can I do this and increase my total superannuation balance, or can I transfer it as a undeducted contribution?

You can contribute an inheritance to your superannuation account as a non-concessional contribution. “Undeducted” is old terminology, but it is similar to non-concessional.

When you say you “transferred” funds, do you mean contributed?

You have to be under 75 at the time of the contribution. The amount you can contribute as a non-concessional contribution is based on your total super balance (accumulation and pensions balances combined) as at the previous June 30, as shown in the below table.

Craig Sankey is a licensed financial adviser and head of Technical Services and Advice Enablement at Industry Fund Services.

Disclaimer: The responses provided are general in nature, and while they are prompted by the questions asked, they have been prepared without taking into consideration all your objectives, financial situation or needs.

Before relying on any of the information, please ensure that you consider the appropriateness of the information for your objectives, financial situation or needs. To the extent that it is permitted by law, no responsibility for errors or omissions is accepted by IFS and its representatives.