Every year many women face the breakdown of their marriages or De facto relationships. It can be a very difficult time emotionally for the whole family, especially if you have children. But how does it affect you financially?
The financial impact of relationship breakdown can affect your income, assets (like the family home) and living expenses. Many women are left bewildered and vulnerable, not knowing how to get their finances back on track.
The Family Law Act (1975) indicates how assets are divided after separation/divorce. Your savings, family home, investments and superannuation may be affected. Assets and debt can be divided in one of three ways:
When determining the division, the court will take into consideration the financial and non-financial contributions made by each party.
It is our mission to help empower women to become financially secure. We have a caring and compassionate approach in our dealings with our clients and their family. We can help by:
Contact Prudentia Financial Planning for a free initial consultation and financial advice for divorce.