This week the Daily Telegraph, commenting on a survey undertaken by Suncorp, reported that of Australia’s 84,000 divorces, 86% failed to include the parties’ superannuation interests in the division of assets. Given the statistics regarding women already suffering from a lack of superannuation in retirement due to taking time off work to raise their family, the failure to include superannuation is a major concern. We are pleased to say that 100% of clients represented by our family lawyers are aware that superannuation is treated like property in their settlements.
Likewise, our Estate Planning lawyers are aware of the importance of correctly dealing with superannuation when clients are doing their wills. They are also aware of the need to deal with superannuation on a fund by fund basis as the rules vary between funds, and if the rules of the fund are not followed, clients’ wishes may not be realised.
Superannuation is an increasingly important asset for all Australians and needs to be dealt with in any family law or estate planning context.
Brendan Cockerill is a Business and Succession Lawyer at Dobinson Davey Clifford Simpson, 18 Kendall Lane, New Acton, Canberra ACT 2601 and can be contacted on (02) 6212 7600.