New Legislation: The de facto couple and superannuation
Feature Article by Natalie Dimmock – West Family Lawyers
Picture this scenario – two couples in their early 30s, both with primary school aged children, separate. One couple are married and the other are not married (de facto). The married couple have one stay at home parent, minimal assets but the working parent has a significant amount of super. The de facto couple have similar circumstances.
For the last 20 years in WA, the separated married couple’s assets have included superannuation for the purpose of asset division, including the option to split the superannuation. However, this option is currently not available to the separated de facto couple, whose net assets available for division would be significantly less as a result of the exclusion of the superannuation. This has resulted in markedly different outcomes for these two couples in the example. It has also made it difficult to ensure a fair division of assets for separated de facto couples.
This situation is set to finally change with legislation anticipated to pass this year to enable separated de facto couples in WA to split superannuation and have it included as an asset in the relationship pool of net assets. When the legislation commences, it is likely to cover all of those matters where separated de facto couples have not yet had final Orders made, including those with Court proceedings on foot.
This is long awaited legislation which is likely to have a significant impact in the community.
You may wish to talk to your clients about the change and suggest they seek family law advice.
If you require assistance with regards to this matter of law please do not hesitate to contact us.
