Rebuilding Your Life Financially After Divorce And Separation
Divorce is a dreadful event emotionally for everyone involved, but it also has a huge financial impact on Australians due to our family law arrangements.
When it comes to splitting assets, everything can be considered part of the matrimonial asset pool: the home, investments, savings, and even your superannuation.
Data from the Australian Bureau of Statistics (ABS) indicates that around half of all marriages end in divorce with 47,000 divorces granted in Australia each year. When you consider this figure doesn’t include defacto couple break-ups it’s easy to see how many people are impacted by the financial ramifications of relationship breakdowns.
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Financial Planning and its Benefits
If you worry about money, you are not alone nearly as alone as you think you are. A recent financial poll demonstrated that two-thirds of respondents felt anxious about their long-term financial situation, yet less than half of that actually seek professional help in making changes to their bottom line.
Fortunately, getting help isn’t nearly as complicated – or as expensive – as you might think. Whether you make only a little bit of money and are worried about making ends meet, or you have a six-figure salary and are wondering how to make your money work for you, everyone can benefit from financial planning.
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