Financial Stability - Family Separation

Family Separation (Part 1)

Part 1 of our article on Family Separation from our 3 part Family Separation Series

Life really wasn’t meant to be easy, but at times you wonder why it’s become so hard.

Circumstances change, family situations change, and we need to be mindful of the consequences and impact, a separation or divorce, can have on us financially.

The problem is only compounded when children are involved.

As well as expert legal advice, it is important to obtain proper financial guidance at these times, to ensure no areas are overlooked.

Financial Stability is able to assist in attending to your financial affairs, in a caring, understanding manner.

We are also able to refer you to like-minded Lawyers to assist you with legal matters.

Family Home

Is there still a mortgage on the home? Who will continue living in the home? Will either party intend to purchase the other party’s share? If so, will they be able to obtain finance? Will you be renting or planning to buy another property?

These are issues that need to be addressed, with your Lawyer and Financial Planner.

Child Support

If children are involved, one or the other partner is likely to be the primary carer, and the other partner is likely to provide some financial assistance.

Your Lawyer will provide advice in this area, however, you also need to obtain financial assistance to ensure the funds will be available to provide what support is required by law for your children.

The above are the most emotional aspects of a separation. In our next article we will look at some of the specific financial decisions that will need to be addressed.

Click here to read Family Separation Part 2.

Financial Planning Information

The information on this website is provided for general information only, it is not advice. It has been prepared without taking into account your particular financial needs, circumstances and objectives. You should consult your financial adviser before making any investment decisions.

Read the full Disclaimer here.

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