What Happens to Superannuation if I Separate or Divorce?
The regulations governing superannuation splitting permit divorcing couples to appraise and distribute their super benefits after their marriage has ended. According to the legislation, after a separation, one partner may divide the balance in their superannuation fund and contribute to the superannuation fund of the other partner. Superannuation is treated as property under the Family Law Act , despite the fact that it differs from other types of property in that it is kept in trust. The super funds are still governed by superannuation legislation and the customary conditions of release; splitting superannuation does not turn it into a cash asset. What is taken into account when splitting super? Because every divorce or separation is unique, it is a good idea to get professional guidance from a family lawyer . If not resolved privately, any property division, including superannuation, is likely to be based on the grounds outlined in The Family Law Act of 1975. (Cth). This may tak...