Law

Superannuation Splitting: What is a Consent Order?

When a couple decide to end their marriage or de-facto relationship, they would naturally divide their joint assets, and in some cases, one party wished to include a portion of their superannuation in the property settlement. There are no hard and fast rules about how a person’s superannuation is split, that would be something for both parties to agree upon, and prior to applying for a superannuation split consent order, both parties need to sit down and come to an agreement over property settlement.

Sourcing a Family Lawyer

If you and your ex-partner would like to draw up an agreement regarding your property settlement that includes splitting your superannuation, you should find a family lawyer that handles consent orders in Sydney, as they would be able to draft the agreement so that it will be accepted by the family court. There are certain protocols that must be followed with legal matters and the family lawyer is fully aware of these and can draft the agreement and submit a request for a consent order.

Obtaining Trust Approval & Consent

Prior to submitting a request for a superannuation splitting consent order, you must obtain approval and written consent from the fund Trustee, which can be done by submitting the correct forms (this is something your family lawyer can handle on your behalf). Once consent has been given and both party’s lawyers have signed that their clients fully understand the terms and conditions of the agreement, the request can be submitted.

Reasons Why Consent Orders Are Rejected

There are numerous reasons why the Registrar might reject a superannuation consent order, which includes the following:

  • The court protocol was not followed.
  • Lack of consent from Trustee of the superannuation fund.
  • Lack of contingency clauses.
  • The Registrar is of the opinion the agreement is not just or equitable.
  • The format of the agreement is incorrect.

Of course, if you enlist the services of an experienced family lawyer, you can rest assured that the paperwork is correct, plus a family lawyer can finalise the order within a few days.

The Right to Access Information About your Partner’s Superannuation

If you separating from your partner, you both have the right to know about each other’s superannuation, and if you want to use a portion of your superannuation when settling with your ex-partner, this is possible. There are no constraints as to how much, or little of your superannuation will be given to your ex-partner as part of a property settlement.

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