Unlimited personal liability – what does this include?

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Forums Insurance Unlimited personal liability – what does this include?

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  • #227537
    Anne
    Member

    Hi Amanda,

    I understand from your advice that an individual owner’s personal liability is unlimited. Does this extend to an individual’s super?

    Thanks,

    Anne

    #227963
    Amanda Farmer
    Expert

    Hi Anne,

    It depends where the super funds are held.

    A trustee in bankruptcy cannot access super held in a regulated fund. Self managed funds are different.

    Also, if it was shown you were hiding funds from creditors in super, that would be different.

    And if your lot is held in the name of your self managed super fund, as I understand it: there is full exposure of that fund, to the limit of its assets.

    Amanda.

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