This page is for Self-Represented parties.
Also see: Family Lawyers | White Label | Trustees
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Divorce Property Settlement and Superannuation
Your divorce property settlement needs to take into account the value of everyone’s superannuation.
After many years of struggling to calculate superannuation values in a consistent way, complicated laws were made for uniform methods. That is where we come in, we work out which laws apply then and perform the superannuation calculation using our highly-accurate superannuation calculators. This is the ‘family law’ value of superannuation that you need.
The family law superannuation value is not usually the same as the ‘payout’ value you might expect upon normal retirement.
Sometimes the value of a party’s superannuation asset will be taken as a whole when dividing the assets.
Other times there is superannuation splitting or ‘super splitting’ which means the fund is legally divided between the parties.
Until you and your lawyer (if you have one) have a superannuation valuation there is a missing piece of the property settlement puzzle.
A valuation is usually obtained for the date of separation, and other dates may be relevant as well, for example the date of marriage or cohabitation. These are technical issues for your family lawyer to advise you on.
Superannuation Information Form
Some superannuation funds will calculate and provide you with the ‘family law valuation’ for your property settlement but many do not. The CSS (Commonwealth Superanuation Scheme), PSS (Public Sector Superannuation Scheme), DFRDBS (Defence Force Retirement & Death Benefits Super) and MSBS (Military Super fund) do not.
In all cases you have to apply the Form 6 procedure to get the Superannuation Information Form that contains the information we need to calculate the valuation correctly. It is highly unwise, particularly for a legally-unrepresented party, to assume that any figure in a member statement is accurate enough for family law purposes.
Free Superannuation Valuation Estimates
We have a quota of valuation estimates we will provide free of charge for CSS, PSS, Military and Defence super. Click here to see if you qualify.
Join the Queue for Free Valuation Estimates!
We'll tell you how you can be in the running for free valuation estimates. You'll also get everything you need to understand the valuation process, generate any forms you need, and be ready to calculate the value as soon as you have all the information that's needed.
[newsletter_signup_form id=2]Great advantages of our service
Compassion & Consideration
We provide the high quality service you need but at a sane price, and with fast turnaround. We also don’t pack on extra charges for credit card payments and so on, and always give a considerable discount for fast payment, since that cuts down on our administration hassles, giving more time to do a great professional job for you.
No Extra Charges
There is often a ‘hidden extra cost’ for an expert discussion about the valuation which is considered to be an additional level of service over and above the supply of the mathematical valuation. We always provide that discussion at no extra charge.
Complications sometimes arise with pensions, and in particular invalidity pensions, that can greatly increase the cost of a valuation by the need for additional levels of service.
We do our best to anticipate this ahead of time, and efficiently deal with these issues at once, rather than all the extra to-and-fro that would be necessary at the solicitor-client level, greatly increasing legal costs as well as valuation costs.
This is typical of the x-factor service you get as a result of our additional deep experience as lawyers and programmers.
Legal Strategy
In litigation there can be a legal obligation to disclose material to the other party even if it is prejudicial against you. We don’t take chances with your case and always send you a non-disclosable draft report before committing to an official one.
Initiative
We will contact the Trustee about valuation source material they supplied if in our experience something seems odd about it.
That happens quite a lot.
We are skilled enough to usually sort the matter out without having to bother you for an authority to provide information.
Compelling Detail Saves Cost
- Our reports have an easy to read executive-summary section supported by extremely detailed workings-out that can easily be checked (i.e. nothing is hidden).
- Look very convincing to the other stakeholders which leads to less conflict and expense and affidavits (because the figures are internally proven v. a bare result which needs the author to promise that the figures are correct).
- The reports are instructive and easy to follow – for example many reports even cross-reference to the exact page number of the current reprint of relevant legislation.
There is a not so obvious benefit to our unique approach.
In our view, and experience, extremely detailed reports virtually reverse the onus of proof by saying ‘here are all our figures, tell us what you disagree with’. Not once since starting in 2003 has any opposition pointed to an error.
Because our reports are completely self-contained and explain absolutely everything, we have never been required — at great cost to a client — to provide an affidavit for court, let alone the even greater cost of attending.
Imagine the difference between someone saying you owe ‘$100,000’ – with little explanation, versus giving the figure together with a very detailed logical and documented calculation.
We change the law if necessary
We have been involved in valuations from the very early days of the family law superannuation laws, when we wrote the valuation software used by the Federal Magistrates Court, and have detected and instigated amendments for various errors in the legislation. Therefore we have experience as well as a vigilant attention to detail, and the courage and fight to approach the Attorney-General to fix a problem.
We recently found an absurdity in the Military Super legislation which the Trustee wasn’t aware of and took steps to correct it, because carrying out the legislation as written would have been very unfair to our client.
We believe we are the only entity in Australia to have examined in minute detail every single formula in the book. This is due to the unique skill-set of barrister + computer programmer placing the legal formulae under the microscope.
Technology
- We have invested in superior technology to provide much better value than our competitors whilst providing very high quality.
- Essentially we can devote almost all our time to the accuracy of the report itself, almost no time is needed for the calculation, word processing, delivery, accounting and administration – while everyone else is charging for that.
- This is a huge cost saving that we can pass on to you.
Efficiency
Not just an unsubstantiated claim, but a provable technical advantage — which combined with years of litigation experience enable us to rapidly provide a high quality report for less cost than competitors.
Tracking
You can track processing and ETA, and download both draft and final reports, from within your own account web page.
Predictable Workflow
We provide a predictable uniform service in terms of work-flow, report formats, correspondence, turnaround, price, invoicing etc.
Safety
Typical of our Mercedes-style commitment to quality, our reports include a web-link for checking whether a report has been withdrawn.
Although this has never been required in practice, it gives a mechanism for withdrawing a report if ever needed.
Experience
We have been providing family law superannuation valuations using our specialist software since 2003. Trevor Lewis is also an experienced solicitor and barrister with deep IT skills as well.
Ethical
Last but not least, since it goes without saying.
We present our reports in an objective manner – though we may have to exert unusual energies to explore all angles.
Ultimately, we are legally obligated as experts to provide an impartial report, and take that ethic seriously.
We value these funds & most others
Already have the Form 6 reply?
If you already have the Form 6 response – Family Law Information, we can give you the best quote you are likely to hear. In fact we can usually beat any quote you get elsewhere. Fax it to 07 3102 9272 (include your contact phone/email), or scan and email to valuation@lawtech.com.au (sometimes you can ask and your Fund will do this for you).
