The Family Law Act sets out how superannuation is to be dealt in property settlements.
There are two elements to superannuation orders:
- How to value superannuation interests (accumulated and potential).
- How to split payments between the parties.
Superannuation is taken into account in the overall property settlement, and is subject to the following principles:
- All superannuation is taken into account, regardless of when it was acquired (before, during marriage or after separation)
- It is not automatically subject to a 50/50 split.
- The Court will decide how to divide superannuation based on what is "just and equitable"
Superannuation is subject to specific laws and it is important to note that a Family Law property settlement that includes a superannuation splitting order does not enable you to access superannuation any earlier than retirement age.
Here at Court Legal we can help you deal with your superannuation needs within any settlement, just call 1300 885 289