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Mother has pancreatic cancer - What do I need to do financially to prepare for her passing?
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Hi all,

Long time member here. I'd never thought I'd have to write a post like this, but over the last few months I've found myself in an unfortunate situation where my mother has pancreatic cancer and does not have long left. We are preparing for the worst any day now. How do we best financially prepare for her death? Some questions I have are:

  • How do we organise my dad to be power of attorney? Is this something we can do ourselves by filling out some forms online or does it involve a lawyer?
  • What other important things are there for my mum to sign whilst she is still alive?
  • We've organised a binding death benefit nomination (BDBN) for all of my mum's super to go to my dad instead of me or my brother so that it's completely tax free to my father. I believe as my brother or I are considered non-dependents under tax law, anything that goes to us will be taxed. On top of this, we will apply for early release of super, but I'm not sure if this will happen in time before her death. Is this the correct move?
  • She has 2 super accounts, one of them has a death benefit policy of 40k (she is 59 y.o.) We will try claim it now as she is terminal with not long left, but again not sure it this will happen in time. Regardless BDBN is also to my father. Is this fine? We will try claim and not withdraw this account until the benefit is paid out

Thank you

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1 year ago