A marriage breakdown is a highly stressful event. That’s why it’s vital to receive quality financial advice from someone experienced at shaping and planning the separation of matrimonial assets
The right advice can make all the difference in setting you up for a more secure future. In our experience, this is absolutely paramount for the spouse who has not taken an active role in financial matters in their marriage.
That’s why it’s so important to partner with a professional who can explain your options in plain English, so you can make decisions today that you won’t regret in the years ahead.
Jason is passionate about interest-based negotiations and mediation. He has many years of experience working with clients and their lawyers to identify financial issues in a separation or divorce, and designing scenario analysis to help his set his clients up for a more secure future.
Jason is an active and participating member of the Family Law Practitioners’ Association of Queensland (FLPA) and Queensland Collaborative Lawyers to stay at the top of his field.
Keeping the family home seems like the right thing to do but I’m not sure I can pay the bills.
Your lawyer is trying to help you and they understand the benefits of planning ahead. Having worked with many people in your situation the benefit to you in seeking advice is likely to include:
- Helping you to understand the details of your current financial situation;
- Identifying a plan for how you will generate the income to pay for your living expenses after settlement;
- Giving you the information you need to reorganise or simplify some of the existing investments;
- Answer other questions you have; for example:
- Is continuing to hold the rental property or the family trust a smart decision?
- Will my existing assets generate enough income? When can I access my superannuation?
- Is it worth maintaining an investment loan given the family income may reduce?
- Looking at a few financial illustrations of the options you have so you can choose the best path forward.
- Assisting you and your lawyer to design a settlement option which meets your current and future needs. Too often one party comes away feeling like a winner to later realise there might have been a better way.
I’ve never had to think about money. I raised the children and ran the home.
The most important step to making good money decisions is increasing your general financial knowledge so you can understand key decisions which need to be made. To achieve this we will take the time to explain in simple language your structures and the nature of the assets you hold.
Once you’re feeling more confident we can then chat about what’s important to you moving forward and your key aspirations.
With that information we will work in partnership with your lawyer to design the optimal settlement outcomes for you and your family. Our focus is finding enduring solutions which will stand the test of time. To achieve this we will use illustrations and diagrams to help you make decisions you need to make to make whilst keeping the process as easy as possible for you.
I’m going to end up with a large amount of money and it needs to work for me. This is all the money I have so I need to invest it wisely so I feel secure.
The key items we will talk through with people in your situation to build a solid strategy include:
- Understanding your investment time horizon;
- Previous investment experience;
- The different investment options available to you;
- Risk. Whilst income may seem the most important objective it is important to consider credit (or default) risk in seeking high income. The examples of the past include solicitors mortgage trusts and other property development loans which were not safe.
- Taxation to make sure you are not paying more than you have to; and
- The options available to achieve your objectives. We tailor Individual portfolios based on personal preferences and this can mean a higher level of cash for one investor compared to another.