My wife and I have been together for five years and have recently separated.
She has no super but I have 20 years of accumulated funds. She says she is entitled to 50 per cent of my super. Is this true?
The approach taken by the courts is first to identify and value the property of both parties (you and your wife), including superannuation. The court then considers the question of contribution to that property by the parties.
There are a number of statutory factors which must be considered, including whether or not there are children and the financial circumstances of both parties. Other factors such as age and health may also be relevant.
The law requires the courts also to consider whether or not the proposed division of property is just and equitable.
The courts do have the power to split superannuation so that an amount or percentage is transferred to the other party. It cannot be taken as cash and must remain as superannuation. The panel recommends you seek advice from a solicitor who practises in family law in order to obtain detailed advice on your position.
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