How is Property and Superannuation Split?

The majority of separated partners want to understand how their superannuation and property will be split between them. How much superannuation a person has could possibly be a substantial part of the whole net property of the parties.

The Family Court is only able to make orders separating superannuation, as if it were property, in cases regarding the separated parties to a marriage not cases regarding separated parties to a de facto relationship.

In marriage cases, the Family Court doesn’t have a uniform method of dealing with superannuation interests.

• Occasionally orders are made splitting superannuation as well as splitting property.
• Sometimes the property is divided in proportions that are different from the proportions whereby superannuation is divided.
• Occasionally orders are made dividing the property as well as leaving one party with their superannuation, in such a way that the particular party with the superannuation receives a lesser amount of property and all or most of the superannuation and the other party gets more of the property with no or else hardly any superannuation.

Whilst every case has to be explored and to be and determined on its own set of specifics, some helpful guidelines include:

• If you are the spouse with the majority of the superannuation, and you want a considerable share of the property, you need to offer a superannuation splitting order as well as a property division order. If you do not, then there is a risk that simply no super split will be ordered and you can be still left with all the super and less of the property.
• If you are the husband or wife without having super and you also want all or the majority of the property then don’t apply for a super splitting order. Alternatively, make an application for the majority of the property using the super being left to the other party.
• Generally, in the event that there are young kids and one party’s superannuation is a significant percentage of the overall property (including the super) chances are the Court will leave the vast majority of property with the party with all the kids and all of the super with the other party. However, this is when the Court’s approach continues to be most inconsistent.
• Obtain a valuation of superannuation interests that mirrors the real worth of the superannuation. Occasionally, and this will usually rely on the nature of the superannuation interest (e.g. defined benefit, pension only benefits), it may be necessary to engage a specialist to accomplish this.