What Happens To Superannuation In A Marriage Split
In circumstances of a breakdown of a relationship, superannuation, like other matrimonial assets, can be divided through an agreement or Court Order.
This means that a Court can make orders to ‘split’ a superannuation interest belonging to one party for the benefit of the other.
Laws relating splitting superannuation are complex; however, some of the key areas the Courts will consider in determining such matters are the length of the relationship and the value of the super and whether it was acquired before or during cohabitation or after separation. Therefore, it is often not automatically a simple 50/50 split.
Furthermore, any super awarded cannot be received as a cash payment as these entitlements must be split into a new superannuation account or deposited into an existing account.
Should you require advice on superannuation in relation to a Family Law matter, email email@example.com, call anytime on 0410 639 921 or get in contact with us online.
Superannuation Law Specialist