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Did you know we help divorced women and separated couples manage the accounting and financial planning needs? Some concerning situations we have seen are:
- A number of business clients who have had nothing contributed to super because their significant other controlled the finances.
- Other clients left with the burden of a large tax debt because they didn’t control their own finances and financial structure.
It is usual for one half of a relationship to control the finances. When a couple separate, the one who has no experience running the household finances generally struggles the most. If you can relate and don’t know where to start, this is where we can help assist you. We can help with with most accounting and financial planning situations left by a separation or divorce.
With the assistance of our trusted strategic partners we have created some information to help. For instance, below is an article from Sharyn Manning from Stockdale and Leggo Lilydale.
Read The Full Article Here
The Six Steps to Stress Free Property Purchase After Divorce
Purchasing a new home when you are newly separated/divorced is one of the important decisions you will need to make – and this is usually without the help of your former partner. There are many things to consider and you will need to try to take emotion out as much as possible and think practicalities.
Emotionally you may want familiarity and be looking to buy something similar to your former family home in the same neighbourhood. If this is really what you want you should consider buying your family home from your former partner.
In many cases this is not financially possible so here are some tips to help with your new purchase. If you have already sold your family home organise your finance for your next purchase so that you are in a good position for negotiating for your next home.
Really think about:-
- How much you can afford to spend? Don’t overburden yourself with debt if you can possibly avoid it.
- Look at a range of homes/units/townhouses in your price range in the area you want to live in. Can you find something practical in your preferred area? If not you may want to widen your search area. You may be able to afford something better in a different area. Be flexible but practical. If you have children you need to think about their needs too. Consider schools and transport accessibility.
- Look at cost savings in stamp duty. You can save tens of thousands of dollars by buying a home “off the plan” or under construction.
- Don’t buy something that needs a lot of maintenance unless you have the time and inclination to maintain it.
- Get a second opinion from someone you trust who knows you and your circumstances well.
- Insist on a building/pest inspection prior to purchase. You do not want to have costly repairs to do after purchase.
- Selling and moving again can be costly so take the time to ensure that what you buy is the right property for you and your children for a number of years.