Handy Hints (15) – Disbursement of superannuation

OSD Presents – Handy Hint (15)

If one of your major assets is superannuation and your spouse is close to retirement age, it is possible to apply to the Court to make an order to flag superannuation.

This means that the trustee of the superannuation fund is not permitted to make any payments from that fund.

This can be useful where there are real concerns that a party will deal with their superannuation in such a way that means it is no longer available for distribution, for example if they have retired in Bali, and transfer the money there.

The Court must consider all relevant matters and the likelihood that a payment will soon become payable when making a decision.

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Disclaimer

This article is not legal advice and the views and comments are of a general nature only. This article is not to be relied upon in substitution for detailed legal advice.

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