Super TPD claims and Child Support
Hi Personal Injury Law Firms, we ran this free Webinar for law firms in September 2024, see the recording below.
The purpose of this webinar was to explain what happens after a superannuation total & permanent disability (TPD) claim is approved, how the tax works and what are the financial considerations and consequences when the claimant completes their superannuation withdrawal form.
These are the topics and the timing they appear in the webinar:
- Tax treatment on TPD claims – 11:24
- TPD & withdrawal considerations – 24:03
- TPD & Centrelink – 28:02
- TPD financial advice strategies – 37:21
- Lump sum back payments of income protection & tax treatment – 50:27
- Personal Injury & the 90-day rule – 51:44
- Topical Issues – 54:29
- Referral process and withdrawals – 58:53
More about us
We are a fully independent financial advice firm that partners with personal injury law firms all around Australia – we want to help all TPD claimants before they fill out their superannuation withdrawal form.
Click on the contact us button if you want more information. We have an information email and pack for new law firms that we can send you.
Our TPD Financial Consultation
We offer a $440 TPD Financial Consultation Service to help TPD claimants understand their options before accessing their TPD proceeds from super.
Many law firms build this into their processes because they understand the significant tax, Centrelink and other financial ramifications of making a super TPD withdrawal. Click on the contact us button if you want to know more about this.
Time Frames
For law firms that have built us into their processes, we can book in our TPD Financial Consultation within 3 days.
Our Partners
TPD Claims Advice partners with all the major Personal Injury Law firms and many of specialised TPD law firms around the country.
We also partner with accountants and mortgage brokers who understand the issues your clients face in relation to TPD & other insurance claims, and Work Cover, etc.
Why Us
All personal injury law firms tell their clients to get financial advice before accessing their superannuation TPD proceeds, but TPD Claims through super is a very niche area and most financial advisers won’t have the experience or expertise to assist.
Many financial advisers can add weeks or months to the process slowing down the process and creating additional unnecessary stress for your client.
It is not appropriate to send TPD claimants to an accountant. At best, an accountant can explain the tax treatment to the TPD claimant (however, most accountants won’t have enough experience to understand the tax treatment. But they cannot talk about superannuation options, tax & Centrelink related strategies, and broader financial planning issues etc. These must be explained by a financial adviser.
We are 100% independent. We receive no commission or benefit to place anyone into any super/investment/insurance product. Many TPD claimants MUST rollover to another superfund if they are leaving balances in super, and they can’t get their advice from the superfund their TPD claim was paid in to.
It is not enough for a financial adviser to understand the theory and financial strategies available to TPD claimants (and most don’t), it is also important to understand the differences between superfunds. We track over 80 superfunds and particular TPD related processes relating to each fund.
Law firms are our clients. We understand TPD claimants have a contractual obligation to pay their legal bill through a super withdrawal and we’ll ensure this is processed as soon as possible.
Free Resources
Our website: www.TPDClaimsAdvice.com.au offers a range of free resources for TPD claimants and lawyers, including:
A free information pack for claimants.
Free tax calculator: Free TPD Tax Calc. You can click on a button and receive a free tax report.
Free FAQ videos: TPD FAQ Videos, explaining, tax, Centrelink, financial considerations and strategies.
Blog articles: https://www.tpdclaimsadvice.com.au/blogs/.
We also have a range of free flyers and information packs we can send to you or your clients, including:
- Assistance with the Centrelink DSP application process
- Centrelink reporting information
- Personal injury settlement 90 day rule
- Superannuation TPD checklist
- Lump sum back payments of income protection
- Tax refund information and referral to accountants
- HECS/HELP application to mitigate impacts
- Child Support Information
- Financial education and financial counselling information
- SMSF info pack
- Litigated settlement information
- TPD financial strategy flyer
- TPD case studies
Ongoing Technical Support
We are here to help if you or your staff have any financial questions relating to TPD claims, any other insurance claims, litigated settlements, personal injury settlements, or any financial questions.
We regularly run seminars for personal injury law firms if this is of interest. And we’re always open to feedback on how we can better support you.
Click the contact us button if you want to know more.
