The Australian Financial Review --- Page: 33 : 7 March 2007 Original article by John Wasiliev
ABIX Summary
An increase in litigation is an unexpected byproduct of recent changes to Australia's superannuation laws. Lawyers say the problem is that more people will be leaving their money in super funds longer, funds will grow larger than ever and family members will be fighting over who gets what. They say blended families are already experiencing an increase in litigation. Adult children with one divorced and deceased parent are suing the new spouse for control of the super fund. Because super in a self-managed fund is not a personally-owned asset but held by a trustee it is not generally covered by a will. On death, responsibility for the super fund will go to a person's legal representative rather than heirs.
