A relationship breakdown changes many aspects of your life, including your finances. It is a time when you need to make many decisions about your money which is why the Australian Securities and Investments Commission have developed new tools to help.
The Divorce and separation financial checklist and the Asset stocktake calculator provide practical steps you can take to separate your finances and getting your money back on track. You can also use these tools to help a friend or family member going through a divorce or separation.
By selecting the items relevant to you, the checklist can be tailored to your situation. You can then email your completed checklist to yourself to work through it at your own pace. The asset stocktake calculator can be used with or without your ex-partner to give you a clear picture of your overall financial position to help you start making plans about how to divide your assets and debts.
Remember, going through a separation and divorce can be a very difficult time, so it important to look after yourself and seek support if you need it. The Divorce and separation financial checklist and the Asset stocktake calculator are available on ASIC’s MoneySmart website.