Finances and property: Superannuation
Divorce can be complex, especially when it comes to sorting out finances and property. One area that often raises questions is superannuation. How does the law treat it? What options do you have? And what steps should you take?
If there are concerns about a child's safety, the following actions may be taken:
  • 1. Superannuation Splitting Law

    The law treats superannuation differently from other types of property. It allows separating couples to value their superannuation and divide payments if they choose to do so. However, it is important to note that splitting superannuation doesn't turn it into cash. It still follows superannuation laws, typically remaining untouched until retirement.
  • 2. Options for Splitting Superannuation

    If you and your spouse wish to adjust your superannuation interests, you can do so through a process called "splitting." This adjustment should be part of formalising your financial arrangements, either through agreement or court application. However, it is not mandatory to split superannuation interests.
  • 3. Procedural Fairness to Trustees

    When it comes to superannuation splitting orders, the trustee of the relevant superannuation fund must be informed before any orders are made. This is a matter of procedural fairness, ensuring that all parties involved have the opportunity to be heard by the court.
  • 4. Seeking Legal Advice

    While it is not required to have a lawyer when dealing with consent orders or court applications, it is highly advisable to seek legal advice. Family law can be intricate, and having a clear understanding of your rights and responsibilities can be invaluable. Our experienced team is here to help you navigate through the complexities of family law. Book a 1-hour consultation with us to get started.
Remember, divorce can be emotionally challenging, but having the right support and guidance can make the process smoother.
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