For majority of Australians, superannuation entitlements
comprise some of the largest assets we own in our life. According
to The Association of
Superannuation Funds of Australia, superannuation assets
totalled a whopping $2.9 trillion at the end of the June 2019
quarter.1
We know that superannuation, or 'super' for short, is
the money put aside by your employer whilst you are working so that
you will have money to live on once you reach retirement age. Each
individual's super balance is dependent on a variety of
factors, including the amount made in contributions, how long the
funds have been invested for and the amount paid in fees over
time.
What some people don't know is that superannuation is
classified as a non-Will asset and therefore it does not
automatically form part of your estate and does not necessarily
pass by your Will once you die.
