An important step for most people going through a divorce is (or should be) engaging a family lawyer to help protect their interests.
Shortly after that, I’d suggest engaging your own financial adviser to make sure your financial interests are also being looked after.
Though the relationship with your lawyer will end shortly after the divorce goes through, a good financial adviser will help you to manage, protect and grow your financial position well into the future.
But what can an adviser actually help you with?
Before The Divorce
At this stage, it’s important that you work out what you’d like to receive after the divorce is finalized. To do that properly, you need to define your current situation, determine what you’re going to need in your new life and make some big decisions.
Define Your Current Situation
One of the first steps in negotiating a separation, or finalizing a divorce, is to work out exactly what you own as a couple. You need to work out how big the pie is, before it can be divided.
We can work with you to collect this ‘fact-finding’ information for your lawyer.
Collect the Paperwork for You
Your lawyer is going to require details on all of the assets and liabilities you and your partner hold.
If you’re not in the frame of mind to arrange these documents, we can help.
Calculate Your Requirements
It will help if, during your negotiations, you know how much you actually need to achieve the life you desire.
We will work with you to define what income you need, how long you’ll require it for – and then we’ll calculate exactly what level of assets you need to receive that income.
Decide – Super or the House?
Which flows into one of the most common questions we hear – when dividing the assets, should I keep the house, or split the super?
Every situation is unique – which is why we always consider your specific circumstances when tailoring our advice. To learn more about how we can help, call us on 03 9002 4291