Superannuation and Family Law

Superannuation is an increasingly important resource for everyday Australians. As of December 2002 (for marriage) and March 2009 (for de facto relationships), it has been possible to “split” superannuation when agreements or orders are made in relation to property division. The two main types of interest in superannuation funds are “accumulation interest” and “defined benefit interests”, and each of these is considered differently in the property division process.

Superannuation and Family Law Claims Explained

The majority of interests in Australian super funds are “accumulation interests”. The value of an accumulation interest is broadly equivalent to the balance of the fund at any given time. In other words, it is generally equal to the amount of contributions made by you and/or your employer.

Defined benefit interests are much more complex. This is because they are rarely just the value shown on your statement, meaning they usually require evaluation by an Actuary.

This valuation process is crucial in defining the dollar values of claims. It is used to assess the division of assets as part of the family law legal process. A defined benefit interest must be correctly valued before making a claim for the equitable division of superannuation benefits in a family law dispute.

Mediation and Resolution of Superannuation Claims

Trust Clive Mills and Associates to advise you on your superannuation family law matters. We can help you through the valuation process and assist in mediation and resolution of family disputes. We can also help you with superannuation splits, the division of assets, and equitable settlements without necessarily incurring the costs of court processes.

Need to Discuss Your Superannuation?

Call us to discuss your needs. We’ll be able to provide all the services you need to best manage your super claim and related issues. Call us on (02) 9906 8188 or contact us online at cjm@cmalegal.com.au for any help you need.

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