Superannuation is considered as property in Family Law in Australia, and it is an important factor to take into account when you are going through a divorce or separation, as it is often a significant asset of one or both parties. The top Family Lawyers in Melbourne can help you navigate this complex area of law and ensure that your rights are protected.
For property settlements, one of our top Family Lawyers in Melbourne, will explain to you that all superannuation is taken into account regardless of whether it was earned before, during or after the relationship.
The Court will establish how the superannuation will be split based on what is just and equitable for your circumstances.
You have options for the agreement of the superannuation split, and it is not necessary to go to Court if you can come to an agreement.
A formal written agreement can be documented if you have both sought independent legal advice. In this case you will not need to go to Court.
Your superannuation can also be split as part of your overall property settlement.
If an agreement cannot be made, you can make an application to the court to decide the split.
Dealing with superannuation when a marriage breaks down is complicated and legal advice is recommended. Deanna has extensive experience in this area of Family Law, particularly with complex financial agreements.
Did you know?
The superannuation in a divorce is not converted to a cash asset. It is still subject to superannuation laws and is usually only accessible after retirement age.
How is Superannuation treated in a property settlement?
Under the Family Law Act, superannuation is treated as property which can be divided or “split” on the breakdown of a marriage or de facto relationship, either by agreement or a “splitting order”.
The superannuation splitting law treats superannuation as a different type of property.
Can you have a Superannuation standalone agreement?
Superannuation can be divided according to a superannuation agreement or by a court order.
A superannuation agreement is a formal, written agreement, the strict requirements of which are set out in the Family Law Act. In order for a superannuation agreement to be legally binding, it must outline how superannuation is to be split; the trustee of the super-fund must be given notice and each party must obtain independent legal advice.
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