No one wants to think that their marriage will end, but in Australia today, around one in three marriages ends in divorce. And it often happens when couples hit their late 40's and early 50's. This can severely impact financial independence in retirement causing disputes over the family home and other property and leaving insufficient savings for the parties to live two separate lives.
Aside from being one of the most stressful events in a person's life, it can have a significant financial impact on quality of life - especially for women.
So where do you start when there's property involved?
Get good advice and make sure you have a clear agreement on the division of assets and understand any time limits that may apply. There's a lot to consider when it comes to property, including the family home and investments. You'll have so many questions and it’s an extraordinarily complex area. So we've developed our Dealing With Divorce Guide** to help you understand what steps you’ll need to be considering in relation to your property, including:
- What you'll need to know about property applications
- A checklist for property mediation
- Maintenance factors
**Note: this guide is for designed for general property information purposes only. Please seek independent legal advice in relation to your individual circumstances.