Separating from your partner can be an emotional and traumatic time. We understand the challenges, so we’ve crafted a comprehensive Separation Checklist Australia to guide you through this transition. This checklist is designed not for one party to gain an advantage but to ensure both parties can navigate the separation with minimal stress and drama.
1 Separation Date
- The date of separation is when one party believes the relationship is over and communicates that to the other.
- Record this date as it’s crucial for financial separation, divorce applications, and Centrelink benefit applications.
2 Family Home
- Are you or your partner planning to stay in the family home?
- It’s possible to separate but continue living in the same residence.
3 Bank Accounts
- If you don’t have one, open a separate bank account in your name.
- Obtain copies of all current bank accounts as of the separation date.
- Document access permissions for joint bank accounts.
4 Credit Cards & Loans
- Consider applying for a credit card in your name if you don’t have one.
- Gather all credit card and loan statements as of the separation date.
- Document any joint financial facilities, like loan redraws.
5 Direct Debits and Loan Payments
- List all direct debits and loan repayments, noting the associated bank accounts.
6 Phone, Electricity & Other Services
- Collect invoices for phones, electricity, internet, and other services.
- Note the registered names for each service.
7 Email & Postal Addresses
- If you share a family email, create a personal email address.
- Update passwords and set up two-factor authentication.
- Consider getting a PO Box or a new mailing address.
- Document all insurances, noting the policy owner and beneficiaries.
- Obtain current superannuation account statements and check listed beneficiaries.
10 Wills and Powers of Attorney
- Get a copy of your Will, any Powers of Attorney/Health Directives and determine what would occur if you became incapacitated or passed away:
i. who has been nominated to care for your children (if any),
ii. how assets owned jointly with your former partner and the balance of your estate are to be distributed.
- Consider seeking legal advice to understand the implications of your separation on these documents.
Note: Simple Financial Separation (“Divide”) does not provide legal advice. We are Chartered Accountants offering general information. For specific guidance tailored to your situation, please contact us or consult with a family lawyer.
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