By Belinda Eldridge, Managing Director, Div-ide
Separation is challenging, both emotionally and financially. What was once a shared journey can suddenly become a maze of complexities. However, achieving a simple separation is possible with the right guidance. At Div-ide, we specialize in turning the intricate process of financial separation into a more straightforward experience. Our commitment is to ensure that your simple separation journey is as painless and cost-effective as possible.
How Do I Achieve a Simple Financial Separation?
Every couple’s path is unique, but the foundational steps towards a simple separation are often alike. Knowing where to start can significantly reduce the stress and uncertainty that many separating couples face. Here are some pivotal steps to guide you:
- Choosing the Right Expert: One common misconception about divorce and financial separation in Australia is the need for a lawyer. While legal advice is crucial in some cases, chartered accountants often play a pivotal role in the financial and administrative aspects of simple separation. At Div-ide, we simplify the process, helping you understand both your current and future financial positions, ensuring you don’t spend unnecessarily on legal fees.
- Collaborative Approach for Best Outcomes: It might seem counterintuitive, but achieving the best results often requires collaboration. Our team guides you through every step, ensuring both parties reach a consensus on assets, liabilities, future needs, the impact of children, and the division of assets and liabilities. Learn more in the financial separation section of our website.
- Preparation is Key: The more prepared you are, the smoother the process. Along with personal identification, you’ll need details of assets, liabilities, shared businesses, superannuation, and tax information. To assist you, we’ve created a Separation Checklist available for download.
- Understanding the Financial Separation Process: At Div-ide, we’ve streamlined financial separation into four key steps:
- Engage and collect data.
- Define and agree on the separation of finances and assets.
- Document and lodge.
- Approve and complete.
Dive deeper into Div-ide’s four-step process here.
- Take the First Step: Separation is emotionally taxing and can strain your finances. But with Div-ide by your side, you’re not alone. We offer expertise, empathy, and understanding. Contact us now to start your journey towards a simple separation.