SA Superannuation in divorce

[Ren78]

Hi, I was wondering if someone could help answer my question. My dad has been separated from his wife for over 12 months and is unsure whether or not to divorce her. He thinks that half his superannuation money will go to her. He's in his 60s and has retired, so if he was to access his super now & spend it, would the wife be entitled to any of it if it's all gone before the divorce goes through?
Thanks in advance.

 

[AllForHer]

Spent super may be added back into the asset pool if the Court deems it appropriate to do so, but a property settlement following divorce isn't automatic. Someone has to apply for it if they want one, and the period in which they're allowed to apply for a property settlement is restricted to 12 months once the divorce is finalised.

Superannuation operates a little differently to other assets in property settlement. Only the superannuation earned during the marriage is taken into account, rather than the whole balance, and it's still subject to superannuation laws regardless of property settlement outcome, so it will be transferred to the other super fund, rather than paid out in a cash value.

How long were the paries married for? Do the parties share any other assets, like a house, for example?

 

[Rod]

And it would be silly to spend it all now rather just lose half of the marriage amount.

Your father should see a family lawyer for advice before he does anything. Sometimes some pre-planning can save a lot of money.