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Divorce and superannuation

23 October 2018

For separated couples, the Family Law Act sets out how property should be divided.

A Common Family Law Myth

One of the most common Family Law myths is the belief that superannuation is not included in this division of property.  It is! Another common myth is that property is always divided equally.  It isn’t! Let’s clarify what the law does say.

Determining a Property Settlement

The process of determining a property settlement is quite complex and will have a different impact for everyone.

The court takes the following steps to work out how property will be divided:

  • The court takes an inventory of all the assets and liabilities that existed at the time of separation;
  • A current value is put on the assets;
  • The court must also work out the financial and non-financial contributions both parties made during the relationship.

When deciding how the assets will be divided the court considers each parties,

  • future needs;
  • futures obligations;
  • financial situations; and
  • the cost of caring for any children from the relationship.

What Happens to Superannuation?

In property settlements under the Family Law Act, superannuation is defined as ‘property’.

The law regarding superannuation was changed in 2002.  It provides detailed formulas for calculating superannuation in property settlements.  These formulas need specialist advice.  Ask your solicitor for help in these situations.

Superannuation funds can be split between spouses and rolled over as part of a property settlement.  The splits are not compulsory, but if it is to be done, it can be done in any percentage, it does not have to be equal.

Time Limits Apply 

It is important to be aware that time limits apply to how long you have to finalise a property settlement.

A married couple can make a property settlement at any time after separation but if an Application for property settlement to the court is to be made that must be filed within 12 months of a Final Divorce Order.

If an Application to the court for property settlement in a defacto relationship is to be made that must be filed in court within 2 years after the date the relationship ended.

Contact us for your own advice. Phone (07) 3221 4300 for a fixed-cost no obligation appointment with a family law expert. We can meet with you in person, by phone or by Skype.

2020-05-22T16:05:57+10:00

Client Testimonials

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S.C., Nundah
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T.V., Everton Park
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D.S., Coorparoo
I appreciate you being upfront with fee estimates. You also have a fantastic website and the seminars REALLY helped to get me focussed.
T.C., Tarragindi
The staff at Michael Lynch Family Lawyers were great. Everyone was fantastic, professional, understanding, caring and always communicated with me. I knew I was in good hands.
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D.H., Hendra

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B.S., Brisbane

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J.H., Brisbane

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D.T., Ferny Grove

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T.S., Flinders
Amy, thank you for all that you have done during this matter. You impressed me with your professionalism from our initial meeting, and you have proven beyond doubt, to have had the skills and knowledge required. You are a credit to the company, and I would highly recommend you to anyone in a similar situation.
R.P., Cleveland
Michael is very personable and very good at covering the material and explaining the strategy.
J.O., Hawthorne
I appreciate my lawyer’s professional approach and her being on top of my situation.
N.S., Mt Gravatt
Amy’s work was extremely professional but above all she has a manner and wisdom in dealing with people under stress. I will be recommending your firm to anyone that requires assistance.
K.H., Augustine Heights

My lawyer was the most knowledgeable of all lawyers I spoke to when looking for a lawyer. Michael Lynch Family Lawyers showed professionalism.

R.R., Brighton

Michael Lynch Family Lawyers know what they are talking about.

R.M., Warwick

I really liked the personable service by Michael Lynch Family Lawyers, the simple plain language you adopt and everyone’s patience.

A.O., Kedron

Thank you for being very personable, professional and always providing me with the most appropriate advice in my times of difficulty. The other party’s lawyers were extremely aggressive, while Michael Lynch Family Lawyers remained calm and professional.

S.D., Parkinson

Thank you for helping me through this difficult time. You have been caring, compassionate and efficient. Some of my divorcing friends have not been so fortunate. In my mind, you are the best family lawyer in Brisbane. If anyone I know needs a good family lawyer, I will tell them to speak to you. Thanks again.

B.T., Clayfield

Thank you very much to everyone at Michael Lynch Family Lawyers. Thank you for helping me get my life back and make a fresh start. To have that fresh start without fear and anxiety is priceless.

A.A., Perth
If I need a family lawyer in the future I’ll be heading to Michael Lynch Family Lawyers again.
C.W., Brookfield
Many thanks for your assistance – life is now great – I’m moving on.
J.K., Mansfield

My solicitor is a good listener. My documentation maintained the high moral ground.

S.S., Hamilton

At Michael Lynch Family Lawyers I got professional and ‘no-nonsense’ advice, costs were within quoted amounts and my matter was resolved quickly – well done!

L.R., Ascot

I would like to thank your firm for the support and compassion shown while dealing with my matter.

C.M., Brisbane
Amy, thank you. You have been diligent, accurate and pro-active for the entire duration of my matter. I appreciate it.
R.P., Cleveland
I like that my lawyer treated me like a friend and kept jargon to a minimum. She was easy to contact and kept me informed.
L.R., Samford

We had such a positive experience with Michael Lynch Family Lawyers, and we highly recommend their services. Meticulous attention to detail, attended quickly to every additional request we made, and made sure we always knew exactly where we were every step of the way. Our lawyer took what was such a stressful and emotional time for our family, and made the process feel so smooth and seamless.

N.B., Brisbane
Michael Lynch Family Lawyers always gave me competent and knowledgeable advice. I was consistently kept up to date. The meetings and phone calls were kept business-like, yet caring and thoughtful of my emotional state at the time. Thank you.
J.S., Holland Park
The professionalism and reliability delivered by Amy Honan was fantastic. I had an urgent matter around my property sale and Amy offered to provide assistance over a weekend if I required it – that’s above and beyond!
E.F., Nundah
I liked my solicitor keeping things as simple as possible.
S.M., Clayfield
Lovely to deal with and provides a balanced view in what are very difficult circumstances.
A.C., Morningside
Michael, thank you again for your presence here yesterday. We really appreciated the clarity and accessibility of your presentation. It is a rare thing to find somebody who not only has expertise, but also has a skill in communicating it.
J.S., Brisbane
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G.C., Clayfield

I’m very glad ‘Michael Lynch Family Lawyers’ is my lawyer and not the other side’s solicitor.

S.S., Hamilton
I was impressed by my solicitor’s attention to detail and her concern for me, and that the process was explained to me and that I understood it at all times.
B.W., Chapel Hill
Thank you, you placed my needs first, you were aware of the need to reach a final result and not get caught up in the personal issues of the other party.
S.L., Moranbah
I was guided through a really difficult time with expertise of Michael Lynch Family Lawyers. I am more than happy with the outcome of mediation.
J.H., Windaroo

Thank you Debra for all the work you did for me, you both made the process manageable and brought sense to the chaos.

R.B., Toowong
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P.B., Carindale
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C.T., Bribie Island

I have appreciated the way that you and the staff at your firm have handled my situation. I would especially like to mention the professional and caring way my lawyer conducted my case, I am deeply grateful and extremely happy with the results. I will be referring others to your service.

J.H., Wellington Point
Thank you for the outstanding legal advice you have provided and professionalism in which you conduct yourself. I am truly thankful that it was you who represented me.
M.T., Stafford
I always felt that the service provided by Michael Lynch Family Lawyers was of a high standard. Each time, after appointments I came away feeling secure. Keep doing what you are and maintain the ‘family feel’ that permeates your services.
C.W., Brookfield

After utilising the mediation services team recommended by your organisation, my ex-partner and I were able to reach some interim agreements about parenting. I am incredibly grateful for the advice provided by Debra Effeney; and found your firm’s services to be exceptionally professional. If we needed to consult a family lawyer in the future, we would have no hesitation in reconnecting with your firm.

K.M., Paddington
Your team’s communication with me was exceptional, I knew exactly what was happening.
A.A., Eatons Hill
My solicitor provided a personalised service, prompt and quick responses and cost information prior to my commitment.
G.C., Southport
My family lawyer was very helpful in assisting me to combat a very ugly situation without stooping to the low levels that the other solicitor attempted to take us.
M.J., Manly

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A.O., North Brisbane
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S.S., Hamilton
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