Welcome to another episode of the Divorce Collective!
Today, Caralee Fontenele delves into an important aspect often overlooked during property settlements: superannuation. Discover why it’s crucial not to underestimate the significance of superannuation in the asset pool.
Superannuation, for many couples, represents a substantial asset outside of the family home. However, it can often be overlooked during separation due to its intangible nature and locked-away status. This misconception can be a significant mistake and put one party at a disadvantage.
It’s important to remember that superannuation is indeed a tangible and valuable asset. Ignoring the potential for splitting superannuation can have long-term financial consequences.
One aspect that further highlights the significance of considering superannuation is the gender pay gap and the unpaid caring roles that predominantly affect women. On average, women have approximately 37% less superannuation than men due to inequalities in pay and the impact of raising children.
Fortunately, in the event of separation, a “super split” can be considered. However, there are specific compliance rules that must be followed when dealing with superannuation.
At Collective Family Law, we have extensive experience in assisting individuals with negotiating superannuation splits. To gain further insights and information, we invite you to listen to the full podcast episode!
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