Superannuation Agreements, Separation and Family Law
Superannuation has become an increasingly important part of family wealth in Australia especially because for most people it is now compulsory. The Family Law Act 1975 (amended March 2009) allows all separating couples, married, defacto and same sex, to divide their superannuation, just like any other asset. Separating couples have two choices when dividing their superannuation interests.
A Superannuation Agreement is a written agreement, which complies with Part VIII B of the Family Law Act 1975 that provides for the payment splitting or dividing of a superannuation interest. Most commonly used after the relationship has ended, superannuation agreements can be used to flag an interest during or even before entering the relationship. While the main effect of a Superannuation agreement is to prevent either party making an application to the Family Court for the division of superannuation assets. The aim of introducing Superannuation Agreements is to encourage all couples to agree about how to divide their Super in the event of, or following, separation. However if the couple cannot agree on how to divide their Super a court has the power to issue a court order to split the super as part of a property settlement. Important note: Under the Family Law Act this agreement is binding only when it is signed by both parties and contains a certificate confirming that each party has obtained independent legal advice prior to signing the agreement. For more information on legal advice and to get affordable legal certification see our Independent Legal Advice page (Doc Review Service)
Professionally drafted and formatted for your convenience, this Superannuation Agreement Kit is available for immediate download as an MS Word and Adobe pdf template. Simply insert the correct information in the appropriate fields and go to print.
The Superannuation Agreement Kit includes:
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Sample Document Excerpt
