Depending on your circumstances there may be ways to access your Superannuation funds early, and debt could possibly be one of them. Two of the reasons you might be able to access your funds before you reach preservation age are related to debts, and these are on the grounds of compassion and also financial hardship. But you must be aware that it will depend on your fund because even though these release conditions are part of the law surrounding Superannuation, not all funds allow payments under such circumstances. The best advice is to check with your fund for more information.
Accessing your Superannuation funds early due to hardship circumstances are different from accessing super early under compassionate grounds. The following is an overview of these reasons, but always seek advice from the Australian Taxation Office (ATO)(1) because early release of super is for unpaid costs only.  You should also be aware that the ATO advises that you could be liable to pay tax on the funds withdrawn under early release conditions.
 

You’re in safe hands with PK Simpson. 
We can help you receive the TPD entitlements you deserve.
We’re big on keeping our clients up to date and supported throughout a claim. We’re the only Superannuation law firm with a client services department dedicated, 100 per cent of the time, to making sure you are happy.

Early Access Due to Severe Financial Hardship
You could be able to access up to $10,000 from your Superannuation on severe financial hardship conditions of release.  However, you must have received eligible income support payments from the government for 26 weeks continuously. To be eligible, you must also be unable to meet what are considered “reasonable and immediate family living expenses”.  If you meet these criteria, you should contact your Superannuation fund. In any 12-month timeframe, you can make only one application for early release of your super under financial hardship grounds. If you are granted the funds, you can withdraw from $1,000 and $10,000.  Therefore, depending on the kind of debt you have and on your circumstances, you might be eligible to withdraw some part of your super early to pay debts. The release conditions refer to any expenses necessary for your family’s daily life and can include:

Food costs
Accommodation or housing costs
Costs of essential travel
Other essential costs of living

No Win No Fee*
Where ever and however your injury happened, it is always worth talking to us. Don’t settle for second best. 

Early Access to Super on Compassionate Grounds
The ATO must approve any release of Superannuation funds under compassionate grounds, unlike financial hardship where your super fund has the final say. Depending on your circumstances, the ATO might allow you to access your super to pay debts if they relate to the grounds of compassion. This can be any circumstance where you have no other way of meeting medical or funeral costs if a partner or family member is ill or dies. Be aware that this is a much stricter process than applying under financial hardship. You must apply to the ATO and, if you are successful, your Superannuation fund will be sent an approval letter authorising early access. There is no limit or minimum amount you can access from your super on compassionate grounds, but the ATO will only allow you to access what you reasonably need to pay the expenses. Some of the expenses that might qualify include:

Medical expenses for you or a dependent.
Payments on a loan to stop you from losing your home.
Expenses due to modifying your home or vehicle for you or a dependant with a severe disability.
Expenses related to death, funeral, or burial.

Wherever you are, Australia-wide
From miners in far north Western Australia to abalone divers in Tasmania to truck drivers in Sydney to waitresses in Brisbane. PK Simpson can help you with all your Superannuation and TPD needs.

What if I Owe More Than My Superannuation Balance?
If your Superannuation fund account doesn’t hold enough to make outstanding mortgage repayments, for instance, then to withdraw money from your super early on compassionate grounds you must either:

Reduce the amount owing to your bank.
Negotiate an agreement where the bank will accept your available Super funds in exchange for not foreclosing on your mortgage. The ATO will require a letter from your lender outlining the agreement. must then be provided to the ATO)

Before you decide to apply to access your Superannuation benefit early, always seek the advice of a professional such as PK Simpson. Call us today on 1300 757 467 or email [email protected]. We can help!
 

References:

https://www.ato.gov.au/Individuals/Super/Withdrawing-and-using-your-super/Early-access-to-your-super/

The post Can I Withdraw My Super Early To Pay Off Debt? appeared first on PKSimpson.

Whilst losing a family member can be an incredibly difficult time, too often people are faced with will disputes between surviving family members regarding the validity of the deceased’s will.
We often come across families who have recently lost an elderly or vulnerable family member who had been pressured or even forced into changing their will before their passing.
There can be multiple factors that can come into play when investigating suspicious circumstances and the validity of a will.
Fortunately, we do have laws that allow us to dispute or challenge a will and they fall under three main grounds:

Lack of testamentary capacity;
Knowledge and Approval of the contents of the will or “Suspicious circumstances”; and
Undue influence and fraud.

Lack of testamentary capacity
One of the biggest disputes in this field is proving that the testator (the Will maker) had the mental capacity to provide instructions and create a new will.
Ensuring that there is no “disorder of the mind” which may influence the views of the testator is very important, the court will look to prove that the testator also understood the following:

The significance of the act of law they are embarking on;
The assets and value that they possessed at the time of making the will;
How the assets are to be distributed amongst their family or loved ones; and
The consequences of their actions in making the will.

When solicitors are involved in drafting a will it is their duty ensure that they abide instructions provided to them with the assistance of doctors and family members.  however it is ultimately up to the court to decide if there was a mental capacity at the time of the will being drafted.
Suspicious circumstances
If it is proven that the testator had the mental capacity to draft a will, there is also the factor of having testamentary intentions when doing so.
When investigating the possibility of challenging a will we also look at whether the testator knew and approved of the contents of the will when it was executed. Some red flags that we often look out for include:

When there is an unexplained change of testamentary direction. Eg. Did previous wills leave equal shares of the estate to their children equally, but suddenly a new will has left all of the estate to one family member or carer?

When one beneficiary is left out of the will. Eg. Has one child been left out of the will without any explanation?

When the testator has been potentially controlled or influenced by a favoured beneficiary. Eg. Has the child that lives with the elderly parent suddenly been left with a larger portion of the estate?

When the will was prepared by persons known to the beneficiaries rather than the Will maker? Eg. Was the elderly parent taken to their children’s solicitors and presented with a will that had already been prepared on their behalf?

Suspicious conduct of the beneficiaries towards other parties after the will has been executed. Eg. Did a beneficiary try to hide or lie about the existence of a will?

Undue influence
Unfortunately fraud and undue influence can become a factor in challenging the validity of a will. Essentially the court would have to find that the testator had been coerced into preparing their will against their own wishes.
There are sometimes are clear examples of coercion or fraudulent behaviour such as bullying, physical harm, forging signatures
and pretending to be the person signing the will, however in most scenarios this field can be incredibly difficult to prove as family dynamics and relationships can be incredibly complex.
How do I go about contesting a will?
 
The laws surrounding provision claims can be quite complex, and also a very emotionally draining process. If you have been considering contesting a will you should seek legal advice as soon as possible. Contact us now
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If you have been injured due to a fall at a supermarket or shopping centre, you may be entitled to make a compensation claim. Shopping centres and supermarkets are responsible for providing a safe environment to anyone entering their premises and to prevent any ‘reasonably foreseeable’ harm. This includes:–          Mopping up any spills as soon as reasonably practicable;–          Sweeping dirty floors;–          Keeping isles and walkways clear of obstructions;–          Maintaining equipment; and–          Ensuring that there is appropriate signage displayed to identify hazards. Patrons may be entitled to compensation if they have been injured due to injury resulting from shopping centres or supermarkets failing to meet these requirements.Although these incidents can be quite common, making a claim for a slip and fall injury can be quite complex. The success of the claim will be dependent on proving that there is negligence on the store owner or occupier’s behalf. You can claim a variety of damages including:–          Pain and suffering – this is a lump sum payment payable for the pain and effects that the injury has had on your life;–          Out of pocket expenses – this is an entitlement that can be claimed to cover any medical treatment and any other expenses that you have incurred due to the injury;–          Loss of income – if your injury has resulted in any loss of income or wages, you may be entitled to claim your money back both past and future loss;–          Care and assistance – this compensation can be claimed as a lump sum payment at the settlement of your claim. This covers expenses for domestic care and assistance such as a cleaner or gardener. There are also time limits that apply when making a compensation claim, so if you have been injured due to someone else’s negligence you should get in contact with one of our solicitors as soon as possible.Slip and fall case example 1:  Sonia dropped into her local grocery store to collect a few items to make dinner. With a full basket of groceries, Sonia slipped on some spilt yogurt falling to the ground. Sonia reported her fall to the store manager who confirmed someone else had just slipped there also and that they were going to clean up the spill. Sonia went home thinking that she had just bruised her shoulder. Over the next week the pain in her shoulder gradually got worse and she went to the doctor. After having scans and x-rays her doctor advised her that she had in fact done further damage to her shoulder than she originally thought and needed surgery to repair it. Sonia contacted PK Simpson & Co who successfully assisted her in making a claim where she was able to claim for the cost of her surgery, her lost wages and also her ongoing pain medication and physiotherapy.Slip and fall case example 2:  Terry went to the fish market early on a Saturday morning to collect his seafood for his wife’s big birthday celebration. As Terry collected his items, he turned around to walk out when he slipped and fell on melted ice, hitting his head on the ground. Terry suffered injuries to his head, back and a fracture to his ankle resulting in two surgeries and leaving him unfit for work for months. Terry contacted PK Simpson solicitors who were able to prove that the store had failed to meet their duty of care and were successful in assisting Terry to make a claim for compensation. Without the assistance of his Solicitor at PK Simpson, Terry would have been tens of thousands of dollars out of pocket. The post Occupiers Liability Claims – Slip and Fall Accidents appeared first on PKSimpson.

Should you need to claim on your total permanent disability (TPD) insurance, then it’s crucial that you fully comprehend the conditions that apply. For successful TPD claims, it’s vital that claimants meet the exact eligibility criteria required by their particular policies. While all insurance and superannuation policies will have different requirements, case studies show some of the more common reasons claimants fail the eligibility tests include:

Failing to meet the required disability level
Failing to satisfy minimum wait times
Failing to fulfil requirements around work history

The best advice is to read your policy carefully, and if you have any questions about your total and permanent disability superannuation claim, contact your provider or a law firm’s Superannuation experts. The process can be long and arduous unless you take the necessary steps.

For over 38 years, the PK Simpson law firm has been helping the people of Australia win the TPD payout to which they are entitled.
PK Simpson lawyers have the skills and experience to make sure you are successful in your TPD claim.

Consider These 3 Points Before Making a TPD Claim

Ensure that you fully understand the reasons why TPD claims can be disputed.
Check your policy or have an expert check it to make sure you’re eligible to make a claim.
Follow the right steps to claim. This will be dependent upon whether your TPD is a standalone policy or is included in your Superannuation fund.

If you are going through the difficulties that come after the death or total and permanent disability of a member of your family, Superannuation and disability insurance benefits may help to ease your financial burden. At PK Simpson, our TPD Claim lawyers can help to make sure you win the maximum lump sum payout under your benefit.

Understand Why Your TPD Claim Might Be Disputed
One of the primary reasons many TPD claims are disputed stems from the fact that the definitions between the different insurers are so varied. Also, there is no standard definition of TPD. Examples of variations include:

Long wait times
Before you receive any payments, your policy might require you to wait for up to three months.
Further requirements
Your policy might specify that you receive ongoing advice from a specialist or that you have a rehabilitation program in place.
Exclusions
Your policy could exclude you from receiving a TPD payout if you have pre-existing medical problems.

Check if You’re Eligible to Claim
Being crystal clear about what your policy requires is of the utmost importance for a successful TPD claim. You also need to be clear about the definition under which you policy falls, so there are no disappointments or nasty surprises after you claim. Providing you satisfy the conditions set out in the policy you have with your insurer or your Superannuation fund you can make a TPD claim. This will typically involve proving you can no longer work. Insurers will usually rely on the following criteria when they assess a TPD claim. Remember, the requirements set by the different insurers usually varies greatly.

Level of Disablement: You will most likely need to prove you suffer from a minimum degree of disablement which will often consider your ability to go back to your previous job, or ever to work again.
Your Superannuation Fund: Whether you can lodge a claim will depend on whether TPD cover is part of your Superannuation policy.
Wait Times: Before you lodge a TPD claim, there will possibly be a stipulation in your policy that you wait for a certain period after your injury so your symptoms can stabilise and the full extent of damage can be ascertained.
Your Employment History – Before you are eligible to claim a TPD payout your policy could require that you have had a minimum level of work in the form of weekly hours or total length of employment.

Follow the Appropriate Steps to Claim TPD
Making a claim from a standalone TPD insurance policy is similar to claiming TPD from your Superannuation; however, there are some differences in the claim processes. While every claim process will be different, depending on your insurer and the type of claim, it is generally the case that the following steps should be taken:

Call Your Insurer’s Claims Department: You will need to get the proper forms, and it’s advisable to let your lawyer help you to fill them out correctly.
Prepare the Documentation: This includes the completed claim forms, a statement from a certified doctor or specialist to verify your injury or illness, whether physical or mental, details of other health claims, plus your bank details for your benefits to be deposited.
Submit Claim Forms and Documents: Makes certain you have every document and all the information required by your insurer to avoid any unnecessary delays.

PK Simpson prides itself on being a firm that takes on any case relating to compensation, including TPD, whether it’s big or small. Call us today on 1300 757 467 or enquire online now so we can help you.

The post Successful TPD Insurance Claims: 3 Steps You Must Take When Claiming appeared first on PKSimpson.

If you have superannuation in Australia, even if you’ve only worked in Australia as a temporary resident, you’re likely to have a Superannuation account. If you’re going back to your own country or if you’re a permanent resident, or an Australian citizen leaving australia permanently, or moving overseas indefinitely, you need to know what happens to your Superannuation. The Australian Taxation Office (ATO) advises that the laws surrounding what you can and cannot do with your Superannuation will depend on your status as a resident or citizen. Your particular situation could be different from others so you should seek the advice of a Superannuation specialist such as PK Simpson.
 

PK Simpson, Superannuation/TPD specialists –Our friendly team will make sure you’re looked after, and that every fund you’ve ever been a member of is looked into – You might have more than one claim.

I’m An Australian Citizen Leaving Australia Permanently
If you’re an Australian citizen or permanent resident who is moving overseas permanently or for an indefinite period, your Super will be subject to the same rules as if you were living here. This means your Superannuation has to stay untouched in your fund account until you reach preservation age and you’re eligible to withdraw it. Therefore, according to the ATO, you cannot gain access to the funds just because you are moving overseas to live. In other words, the regulations governing your Superannuation are the same whether you live in Australia or have moved overseas. Should you retire when you reach preservation age, or if you’re eligible under other reasons that allow a release of your funds, you may be able to gain access to them. You may be able to access your funda under the following conditions, but always talk to your Superannuation specialist for advice if you need a part or all of your funds because:

Your home is going to be repossessed
You are suffering severe financial hardship
You are temporarily incapacitated
You are permanently incapacitated
You need palliative care
Your home or car need to be modified
You need to pay funeral expenses

At PK Simpson, 67 per cent of our new clients come to us via word of mouth –33 per cent come to us because they’ve seen our ads.Our clients range from miners in far north Western Australia to abalone divers in Tasmania, truck drivers in Sydney and waitresses in Brisbane.

 
Can I Access My Super Early to Leave and Go Overseas?
No, you can’t. However, even if you’re overseas, your Superannuation nest egg will still be there growing all the while for when you retire or need to access it under the provision stated above. Should you be relocating overseas to work for an Australian employer, your boss may still be required to make Superannuation contributions on your behalf. There is one exception you need to understand which that could possibly let you access your Australian super fund. That is, if you are an Australian citizen claiming payments in New Zealand or intend to move to New Zealand, you can opt for the Trans-Tasman Portability Scheme which allows you to transfer your Superannuation into a KiwiSaver account. The same rules about accessing the fund when you retire etc. will still apply. There could be extra fees and rules surrounding this, however, and are only allowed to transfer from an Australian Prudential Regulation Authority regulated fund and no others, including self-managed funds.
 

 
Can I Contribute While I’m Overseas?
Possibly, but restrictions apply on contributions to self-managed Superannuation funds. Those with other types of Australian Superannuation funds may still make personal contributions while they’re overseas to make sure their account grows and fees and insurance deductions are covered.
Temporary Residents
If you are a resident of another country and you’re working temporarily in Australia, you could be eligible to have your Superannuation money paid to you when you go back home. This is done through a ‘Departing Australia Superannuation Payment’. For more information, or to apply, go to the ATO website(2).
No matter what your status, if you’re planning on departing from Australia to go overseas for an extended period it’s a good idea to do shop around for a fund that can offer you a choice of investments without charging excessive fees. Even if you are not contributing to your fund while you’re away, the best Superannuation funds invest in safe and rewarding options to help your balance grow.
PK Simpson prides itself on being a firm that takes on any case relating to compensation, big or small. Call our law firm today on 1300 757 467, send an email to [email protected] or enquire online now so we can help you.

References:

https://www.ato.gov.au/Individuals/International-tax-for-individuals/Going-overseas/When-you-leave-Australia/#Yoursuper
https://www.ato.gov.au/

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While it’s common knowledge that if you sustain a work injury, to help pay for your medical expenses and time off work etc., you are entitled to claim compensation and you should seek the help of a personal injury lawyer. The same applies if you’ve sustained an injury and it’s the fault of the owner […]

The post What if I’m Injured While Volunteering? Can I Make a Claim? appeared first on PKSimpson.

It is often the case in personal injury claims for compensation that a defendant will agree that they were to blame for an accident that resulted in an injury to a person. However, while accepting the blame the defendant’s lawyer might argue that the injured person contributed to the accident or injury. The injured person’s […]

The post What is Contributory Negligence in a Personal Injury Claim? appeared first on PKSimpson.

Work can be a hazard to your health both physically and psychologically. The causes can range from bullying and sexual harassment to emotional trauma in the workplace due to witnessing a death or violence, or continuous conflicts with coworkers or the boss. These situations can be a nightmare and it can affect your life and […]

The post Can I Make a Claim For Psychological Damage Suffered at Work? appeared first on PKSimpson.

Nobody really wants to be in the position of needing to consult a lawyer for a personal injury claim, but it doesn’t have to be a harrowing experience. A good lawyer knows how to make you feel that you’re in safe hands and will do all they can to help you feel respected and comfortable. […]

The post What You Must Tell Your Lawyer About Your Personal Injury Claim appeared first on PKSimpson.

All workers, no matter where they work and in what capacity, need to know and understand what their employment status means. Whether your experience at work is fulfilling or full of problems; whether you’re a part-time worker or you’re looking for a new casual job, understanding your job status is crucial in protecting your rights […]

The post Casual V Permanent Part-time: What it Means For Your Workplace Rights appeared first on PKSimpson.

Lane filtering on a motorcycle is when the rider moves slowly between two rows of stationary or slow-moving vehicles going in the same direction. If you ride a motorcycle, you’ve no doubt lane filtered at some time, and if you’re a driver or passenger you have most likely seen motorbikes lane filtering in heavy traffic. […]

The post Lane Filtering on Motorcycles: Is it Legal? appeared first on PKSimpson.

It’s common knowledge that many workers suffer from stress. But in a 2016 report by Reventure(1), it was revealed that almost 30 per cent of workers felt a high amount of stress ‘always or often’ due to their work or for other workplace reasons. However, there are remedies for people who undergo a significant amount […]

The post When Should I Make a Workers Compensation Stress Claim? appeared first on PKSimpson.

Drink drivers (or motorcycle riders) who are caught over the limit in NSW face much harsher penalties with the introduction of new legislation to be brought in at the end of the year (2018). Changes to the law mean that the so-called ‘low-range’ offences will have a $561 fine added on, and offenders will immediately […]

The post What Are NSW’s Drink Driving Limits? appeared first on PKSimpson.

Yes and no. Your superannuation is paid by your employer (9.5 per cent of your earnings and some by the government if you’re a low wage earner) so you have enough money to fund your retirement. While it is your money, you can normally only access it after you turn 65. In 2019, the price of houses does make it hard to get into the property market and, yes, if you could buy property with super it would be an excellent way of funding the purchase of a home, but what about your retirement? There are strict rules around drawing out your super early, and these may stop you from using that money for a property purchase and also a deposit.
The Scheme That Allows Super For a Deposit
The Liberal government ditched Labor’s First Home Saver Account in May 2014 and in 2017 announced a new one called the First Home Super Saver Scheme (FHSSS) to help first-home buyers save for a deposit on a home faster. However, the FHSSS is for first-home buyers only, so anyone who has previously bought one isn’t eligible unless they fulfil a ‘financial hardship’ rule. Also, the scheme relates to super contributions made from July 1, 2017, and not before. Under the scheme, from July 1, 2017, eligible people with a superannuation account have been allowed to make voluntary contributions of up to $15,000 per annum, with a cap of $30,000 over more than 12 months to their super for a deposit to buy their first home. Importantly:

You can only access FHSS super once.
You have to live in the home as soon as practicable and stay for at least six of the first 12 months you own it.
You cannot have owned any property in Australia.
You must be aged 18 or over.

Always talk to a superannuation expert for the finer details of your individual circumstances.
 

For more than 38 years, PK Simpson has been helping the people of Australia get the compensation to which they are entitled. Our lawyers have the skills and experience to make sure your claims are successful.

Can I Use My Super to Buy A House To Live In?
The rules for withdrawing superannuation benefits are stringent in Australia. You have to satisfy specific conditions to access it early, and buying a house to live in is not one of them in most cases. While you can’t withdraw your super early to buy a house, under the FHSSS, you may be eligible to withdraw enough for a deposit, providing it was contributed after July 2017. In general, and unless you have self-managed super, for you to be able to use your superannuation to buy a house, you must meet a full ‘condition of release’. The usual condition is that you have reached age 65, or your retirement or preservation age (age 58 if born after 6/1962, and 59 if born after 6/1963). Your super would have to be drawn down into your bank account.
 

Your super generally come with insurance and TPD so you can claim superannuation insurance disability payments if you are injured at work or have an illness that prevents you from working. Talk to PK Simpson about it today.

Can I Use My Super to Buy an Investment Property?
The Federal government now allows those with self-managed superannuation to withdraw money to buy an investment property, but there are specific rules around how much you can borrow. Getting down to the nitty-gritty is very complicated, so the advice is to consult a superannuation professional about negative and positive gearing and other aspects of buying an investment property with your super. Also ask your superannuation specialist about exactly what you can and cannot do with your contributions before you make any decisions about buying a home.
At PK Simpson, we’ve successfully handled over 25,000 claims and helped thousands of people get their lives back on track. We are a personal injury law firm that charges on a ‘No Win – No Fee’ basis, and we don’t just pick and choose the cases we’re likely to win. We represent anyone who has a viable compensation claim, regardless of the size of the claim. Call us today on 1300 757 467 or email [email protected].
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