Property and Superannuation
We can assist with dividing assets and superannuation entitlements, so you can achieve financial separation and independence. We can guide you through the process, which includes obtaining financial disclosure, identifying property values, and assessing your entitlements under the Family Law Act. We assess all contributions, including those of a partner who has acted as a homemaker or a stay-at-home parent.
We have extensive experience in dealing with complex financial matters which may involve businesses, companies, trusts, or property developments. Where necessary we also work with forensic accountants, valuers, financial planners and other relevant professionals in the financial industry. We can also advise about and assist with location and recovery of overseas assets.
Complete financial disclosure is critical. We can facilitate the location and tracing of financial assets if your former partner is being untruthful. We can also take urgent action so that your former partner cannot dispose of assets without your knowledge.
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Frequently Asked Questions
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No. There is no automatic equal split. The Court considers:
what your assets and liabilities are (the “property pool”);
the contributions each of you made (financial and non-financial, including as homemaker and parent); and
each person’s future circumstances (often called “future needs”).
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Yes. Superannuation is treated as property and forms part of the asset pool. It can be split between you.
Since April 2022, it has been possible to seek information (through the Court process) about a former partner’s superannuation held with the ATO, making it more difficult for superannuation to go undisclosed.
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Most property settlements resolve without a contested court case, through negotiation, mediation, or a round table conference. Once you reach agreement, you can usually formalise it by:
Consent Orders (approved by the Court, usually without you needing to attend), or
a Binding Financial Agreement (not approved by the Court, and each person must obtain independent legal advice).
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Both of you have a duty to provide full and frank disclosure of your financial circumstances. This includes income, assets, liabilities, superannuation, and interests in companies and trusts, whether held in your own name or jointly with another person/entity.
The duty is ongoing until your matter is finalised by Consent Orders or a Binding Financial Agreement.
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