NSW Changing Terms of Consent Orders - What to Do?

[cevee]

I would consider another 5% if that got us across the line. Yes going for the super as well. We agreed on 30% back in December but now it's at 50%.
I cant find any info on how super is split or is it an automatic 50% regardlesx of the relationship time?

 

[larrylarry]

same principles apply to super.

 

[AllForHer]

Super operates a little differently in property settlement.

Only the super earned during the marriage/relationship is taken into consideration, rather than the full balance of each super account. Let's say Husband has a super balance of $100,000 before he marries Wife. After they divorce and on the day of settlement, Husband's super balance is $120,000. Wife would only be entitled to claim a portion of the $20,000 that was gained during the marraige.

On top of that, super is still subject to superannuation laws - the agreed portion of the super fund can only be transferred to the another super fund. It can't be withdrawn as cash assets (except in circumstances of financial hardship, again in line with superannuation laws) and remains inaccessible until the age of retirement.

That is, of course, how the Court deals with it. If you agree to something different, that's your prerogative.

 

[larrylarry]

it really depends on the parties and it has to be just and equitable.