Financial Stability - Family Separation

Family Separation (Part 3)

Part 3 of our article on Family Separation from our 3 part Family Separation Series

Click here to read Family Separation (Part 2)

It’s at these times that you crave for some stability, and normality in your life. That’s why making sure all your financial matters have been addressed is crucial, to give you that peace of mind to move forward.

Wills

Upon divorce, it is imperative that a new Will be made. Even in a separation, if your wishes have changed, it is important your Will reflects those changes.

Your Lawyer will assist you with this matter.

Enduring Power of Attorney

You may have given your partner the authority to act on your behalf in financial matters via an Enduring Power of Attorney. You need to be aware of this, and if you no longer wish this to occur, you need to revoke the document, and create a new one.

Your Lawyer will assist you with this matter.

Beneficiary details – Superannuation

It is likely that you have nominated your partner as the “Preferred Beneficiary” or the “Binding Beneficiary” in your superannuation fund (or funds).

Your fund(s) need to be contacted to review the situation, and details changed according to your wishes. Financial Stability is able to assist you in this matter.

Many aspects of the above can become overwhelming, especially during difficult times. Financial Stability is here to assist you in the financial areas, by understanding you situation, and explaining matters in a caring, clear, easy-to-understand manner. We are also able to refer you to Lawyers who will provide similar understanding and support.

Financial Planning Information

The information on this website is provided for general information only, it is not advice. It has been prepared without taking into account your particular financial needs, circumstances and objectives. You should consult your financial adviser before making any investment decisions.

Read the full Disclaimer here.

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