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NSW What is the Easiest Way to Split Superannuation?

Discussion in 'Family Law Forum' started by peagee, 28 June 2016.

  1. peagee

    peagee Member

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    Hi,

    My wife and I separated just under 2 years ago. Not long afterwards, we sold our family home, for which she got 60% of the proceeds and she also got most of our high-value assets furniture, car, etc. This was mainly due to my earnings being higher and having the ability to set myself up again easier.

    At the time, we agreed she would get a sum from my superannuation to balance our funds, which worked out to $40k. I've recently been pushing her to get a divorce and she wants me to honour the agreement on the superannuation, which I'm happy to do, however, the process seems complicated and confusing given we've already divided everything else.

    Is there an easy way to just agree to transfer $40k into her super fund rather than having to prepare consent orders for our current financial statuses?
     
  2. sammy01

    sammy01 Well-Known Member

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    No...

    Consent orders need to be stamped by the court for financial agreements to be binding and to make your life more fun, both parties need independent legal advice before the courts will stamp the papers.

    So I hope when your ex gets legal advice. She doesn't get a s**t solicitor who tells her that she should expect more... Without any further info, it is hard to give help on that one. But a s**t solicitor will tell her she should get more. The end result will be the solicitor gets more and both you and the ex will get less...

    My opinion: Do a sole application for divorce. That will then give the ex 12 months to sort things and if she doesn't then your super will be your business. Sadly, it looks like you wanna sort this amicably and without solicitors, but the solicitors don't like it when you do that because they don't get any money
     
    peagee likes this.
  3. sammy01

    sammy01 Well-Known Member

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    Oops 2 more things:

    Do you have kids?
    How long were you married?
     
  4. peagee

    peagee Member

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    Thanks for the prompt response Sammy.

    Much as I thought, which is unfortunate. No kids to worry about, both are over 18, and we were married for just over 10 years if that makes any difference.

    From my perspective, I just want to get through the divorce. She says she's not fussed about the divorce, but wants to sort out the super first if we go ahead as she thinks that she can't go through with the consent orders once the divorce is finalised - I know this is not the case but she doesn't believe me.

    We are very amicable, so hard to serve her the divorce papers, but the fact of the matter is she doesn't want to spend money on lawyers either, so we are in a bit of a stalemate. Is there any statute of limitations on consent orders from time of separation?

    The other issue for me is if we declare assets in consent orders, her share of the property which was much more than mine is in her new partner's mortgage offset account. Mine was invested in property, so on paper, I have much more value...
     
  5. fbueller

    fbueller Well-Known Member

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    Hey @peagee it's great to hear you're amicable with your ex, it sounds like you could get through this together.

    Unfortunately you'll need to spend something on lawyers, however I did think that superannuation was a bit different to other financial assets.
     

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