The Australian Securities and Investments Commission (ASIC) has recently added two online family law resources to its MoneySmart website.
One resource is the Divorce and Separation financial checklist. It lists important financial things that a person who has separated needs to think about, and gives some practical action steps (including about separating finances). The items on the checklist include: bank accounts, the mortgage, the rental property that the person is living in, budgeting, their Will, their Power of Attorney etc. Check it out on Moneysmart’s website here.
The second resource is the Asset stocktake calculator. It assists a person to get together a list of their assets and debts, with some tips about how to go about getting a value for some assets. This list can be used as preparation for meeting with a solicitor. Check it out here.
If you would like further advice on division of property, ask us about our Fresh Start Plan.