If you and your ex-partner are about to agree on a property settlement, it is possible to include a portion of your superannuation, and if you are both agreeable to this, the next step is to seek out an experienced family lawyer. It must be noted that when superannuation is split, the recipient does not receive a lump sum, rather the funds are transferred to a nominated account and the money cannot be accessed until retirement age is reached.
Binding Legal Agreement
When both parties have worked out an agreement on how their property will be divided, which includes superannuation split, the next step is to sit down with a family lawyer. The legal expert would record all the details and explain the process in detail, and with every consent order application, both parties’ lawyers must sign to confirm that their client fully understands the terms and conditions of the order in question.
Seeking a Court Order to Split Superannuation
In the event you and your partner cannot agree on property settlement, you can seek a court order to have your superannuation included in the property settlement. Of course, you would seek legal advice when seeking such a court order, and any experienced family lawyer would be able to assist you in preparing a request for a court order.
Percentage Vs Lump Sum
When agreeing to split your superannuation with your ex-partner, there are two ways to approach this; you could agree to a specific amount, say $100,000, or you could agree on a percentage, whichever you prefer.
Following Legal Protocols
As with all fields of law, the family court expects requests to follow a strict format, and in some cases, a consent order request is rejected because it does not follow the correct protocol. Here are a few reasons why a consent order might be rejected:
- Incorrect use of language
- Incorrect format
- Lack of Trustee consent
- Lack of contingency clauses
The Registrar might be of the opinion that the consent order is not just and equitable, and they could reject it.
Seeking Professional Help
If you are in the process of separating from your partner and would like to include your superannuation in the property settlement, you should seek out an established law firm that specialises in family matters. Such a person can help you to draw up an agreement, plus they can present the order following the many protocols, thus ensuring a quick approval, and neither you nor your partner need to be in attendance.
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