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Ex Applying for Financial Hardship - Put His Superannuation on Hold?

Discussion in 'Family Law Forum' started by Leah, 24 April 2014.

  1. Leah

    Leah Member

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    My ex husband and I split 18 months ago. We have 4 children which he has 2 nights every second weekend. He still lives in the matrimonial house that has little equity. I have had no financial compensation from the house or his superannuation. He is applying for financial hardship and have his super pay for the mortgage arrears and bills, which will use up the kids and my super entitlement of his. Can I put a hold on his super before the bank takes it? If so, how long does the process take? If not, what are my other options?
     
  2. Worldly1

    Worldly1 Well-Known Member

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    Hi Leah

    From what I’ve read, the trustee of a super fund will only acknowledge a formal splitting agreement or a court order, so even if you wrote to your husband’s super fund and the bank explaining that the super was currently under negotiation for a property settlement, its unlikely that that will make them put a hold on paying out his super. I just provided an answer to a question about the steps for superannuation splitting in a family law context, but the key issue here seems to be getting a formal agreement in place about division of all your assets as part of an overall property settlement (including the house as well as super at the same time).

    The Family Law Court website is full of information and also has the forms you need to fill out to get information on your husband’s super and how to prepare and formalise a family law property agreement. You can get started on those straight away.

    If you can't come to an agreement with your husband on what to do with the super because he plays the financial hardship card, then you can apply to the Family Law Court to make an order splitting the superannuation interest, as part of a property settlement.
     

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