By Gianna Huesch
When separating your goal is to reach financial independence as quickly as possible, but sometimes it can be hard to know where to start in sorting out your finances.
To help you make good decisions for your financial future, financial planners MLC have created an excellent Divorce Finance Checklist based on their experiences in helping clients manage the financial planning considerations involved in separation.
The checklist guides you through some of the most common financial planning issues and is split into four sections: Collecting Information, Debt, Controlling Your Money, and Future Planning. Each section contains a wealth of useful information and pointers. In “Collecting Information” you’ll be walked through the various documentation needs involved in separating your financial affairs. Under “Debt” is everything to consider in relation to your liabilities and potential liabilities. The section “Controlling Your Money” gives helpful tips on budgeting and figuring bank account arrangements, for example; while “Future Planning” deals with issues such as super and estate planning.
You can find the Divorce Finance Checklist here: http://www.divorcefinancechecklist.com/
Do you need financial planning assistance? Please contact Michael Miller at MLC Advice Centre on (02) 6247 1233 for advice.
If you need assistance identifying which items on the checklist may apply to your situation, or indeed any other legal advice in relation to your separation, please contact Cristina Huesch or one of our solicitors at Alliance Family Law on (02) 6223 2400.