Superannuation.
Superannuation can be one of the most significant assets in a relationship, yet it is frequently overlooked.
Following a marriage or a de facto relationship breakdown superannuation is treated as property which allows separated couples to split superannuation payments and flag superannuation interests by agreement (superannuation agreement) or by Court Order.
Whether superannuation will be split at all and in what proportions will depend on the individual circumstances of the Family Law matter. A superannuation split does not usually result in an immediate cash payment (depending on the age of the parties). Instead, the entitlement is transferred to the receiving party’s nominated fund to invest until release conditions are satisfied.
Sayer Jones can assist you by identifying the superannuation interest, obtaining the relevant information from the trustee to ascertain the value of the interest, advising on settlement options, and ensuring any agreement properly accounts for your financial position long term.