Superannuation splitting is the process by which a portion of your Superannuation can be split off and given to your spouse as part of a property settlement.
It requires a carefully drafted Order that is usually set out in either Consent Orders or Final Orders sought in an Application to the Court.
When a relationship breaks down property can be divided between the parties. Superannuation is treated as property under the Family Law Act 1975 but it differs from other types of property because it is held in a trust.
While the amount that is split will not be able to be accessed by that spouse until they reach the required age, it is often a useful tool in property settlement to ensure a just division of matrimonial assets. It can also assist in a person’s future needs. We are willing and able to advise you in relation to whether this would be a viable option in your circumstances.