Divorce comes with a raft of financial issues to consider, and with more older Australians than ever obtaining divorces, it pays to be aware of some of the unique financial issues ‘grey’ divorcees face. For example, did you know that women have to be especially careful? The average Australian woman will live five years longer than a man but has a superannuation balance that’s 43 per cent lower. So dividing the family assets fairly in a split is important to maintaining quality of life. A fair division of assets might not necessarily be 50:50. Particularly for those older Australians who have CSS or PSS pensions (or other defined benefit funds including some Telstra funds, Defence super, and Military Super), it’s imperative to obtain specialist family law advice.
Read David Koch’s financial advice for older people who are divorcing: http://www.news.com.au/finance/money/staying-financially-sound-after-divorce/story-e6frfmci-1227025533889
