Supernnuation
Family Law, Divorce Lawyer, Property Settlement, Child Custody, Defacto Law
Superannuation is often a significant asset of parties to a marriage or de facto relationship. In fact, for middle and lower wealth income groups, superannuation often forms 60% or more of the total wealth for a household, and for wealthy households, superannuation may form up to 20% of household wealth.
In family law, superannuation is treated as a special type of property. For married couples, or for couples who have been in a de facto relationship (including a same sex relationship) that broke down after 1 March 2009, the Family Court has the power to make Orders in relation to the separating couple’s superannuation entitlements to give effect to a fair and equitable property settlement, including Orders ‘splitting’ superannuation. For de facto couples who separated prior to 1 March 2009, superannuation may still be relevant to a property settlement, but it cannot be “split” or treated as property.
The area of superannuation and family law superannuation splitting can be complex. There are various types of superannuation funds and different categories of superannuation entitlements which may be valued in different ways. There are also different considerations to take into account depending on whether a superannuation entitlement is still in the growth phase, or whether a party is close to retirement or is in fact in receipt of their entitlements as a lump sum or pension. There may also be taxation and other consequences that arise as a result of dealing with superannuation entitlements in a property settlement.
Doolan Wagner & Callaghan Family Lawyers has a wealth of experience in dealing with the complexities of superannuation law. Our Lawyers are able to assist you to understand the various options that you have for dealing with superannuation in a property settlement and to identify and minimise taxation and other consequences that may arise.
We are expert at providing advice on family law superannuation, superannuation after divorce and family law superannuation splitting as part of a divorce settlement.
Contact
Sydney (CBD)
02 9269 0600
St. Leonards (North Shore)
02 9437 0010
Dee Why (Northern Beaches)
02 9984 7411
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