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1. As divorce lawyers, what do we 
do? 
2. What type of assistance do 
our/your clients typically 
require? 
3. How can you add value to our 
clients during divorce? 
4. What are some of the common 
misnomers about divorce?
Financial Matters- 
• Organise the division of assets, liabilities 
and financial resources- Property 
settlement 
• Consider the division of income- Spousal 
Maintenance 
Parenting Matters- 
• Organise the time children spend between 
their parents 
Divorce- 
• Formalise the end of the marriage
When it comes to financial 
matters, my clients are trying to- 
Divide their assets/ income in a 
manner that provides them with 
some certainty for the future 
And then there is the law!!
1. What do you have? 
2. How did you get it? 
3. What about the future? 
4. Is it ‘just and equitable’
A few Misnomers! 
• It starts at 50/50, doesn’t it? 
• Women always get more, don’t they? 
• Superannuation won’t count, will it? 
• Once you separate, it is ok- anything 
you make afterwards is yours, isn’t 
it?
• Generally in providing strategic advice as 
you always would 
• As a financial educator 
• In assisting separating couples to see past 
the division to being able to recreate their 
future 
• In working with legal advisors and clients to 
prepare and consider different financial 
options for settlement and to test those 
options before events such as mediation 
• To gather information, such as insurance, 
superannuation and other items in an asset 
pool 
• As a support to your client
https://www.youtube.com/watch?v=YF_5NXVX3zk
What is Collaborative 
Practice? 
A structured resolution process 
for separated couples where, 
with the assistance of an 
advisory team, they are 
encouraged to settle their 
differences through face to face 
meetings with a commitment 
from all involved that they will 
not go to Court.
How are Financial 
Planners involved? 
1. Acting for an individual client 
during the process often in a 
role of ‘financial educator’ 
2. Advising both parties in the 
process on the financial 
options and outcomes 
3. Assisting clients moving out 
of the process with their 
future financial management
• Husband aged 54 and Wife 44. 
• They had been married for 19 years. 
• There were 2 children 13 and 11. 
• At the time of my involvement the 
husband had 3 case guardians 
appointed to make decisions on his 
behalf pursuant to a QCAT Order. The 
guardians consulted with me and with 
the wife, chose the collaborative 
process.
Goals and Interests of the Parties 
• Wife and Husband’s Litigation Guardians had 
similar goals and interests, focused on 
continuing financial security. 
• Wife had difficulty meeting her monthly 
expenses and she wished to be in a better 
position regarding this. 
• Husband’s Litigation Guardians wanted to be 
able to continue to pay Husband’s considerable 
medical expenses out of the property settlement.
Property Value 
Husband’s Cash at Bank – All Accounts $164,000 
Wife’s Cash at Bank – All Accounts $10,000 
Wife’s Superannuation $10,113 
Husband’s likely Tax Bill ($12,000) 
Possible Centrelink debts and Professional Claims ($7,000) 
Possible Debts to Colin ($15,000) 
TOTAL POOL $150,113 
In addition the husband had superannuation and a UK Pension 
and was receiving income protection insurance of around $87k 
per annum
Decision was made to engage a Financial 
Planner as part of the process to- 
• Provide information as to the budgets of each of 
the parties. 
• Assist with obtaining information about the 
assets, liabilities, insurance and superannuation 
(as husband’s were in part overseas) 
• Provide specific advice of the parties options 
with the husband’s income protection insurance 
and overseas superannuation/pension
The Financial Planner was able to- 
• Assist in calculating and identifying the asset 
pool 
• Assist with financial education including realistic 
budgeting 
• Obtain information regarding the husband’s 
income protection payment and give the parties 
clear information about their options regarding 
this payment 
• Total payment approximately $87,000 a year 
divided between parties
How are Financial 
Planners involved? 
1. Acting for an individual client 
during the process often in a 
role of ‘financial educator’ 
2. Advising both parties in the 
process on the financial 
options and outcomes 
3. Assisting clients moving out 
of the process with their 
future financial management
Thank You!

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Divorce Lawyer Guide to Financial Planning

  • 1.
  • 2.
  • 3.
  • 4. 1. As divorce lawyers, what do we do? 2. What type of assistance do our/your clients typically require? 3. How can you add value to our clients during divorce? 4. What are some of the common misnomers about divorce?
  • 5.
  • 6.
  • 7. Financial Matters- • Organise the division of assets, liabilities and financial resources- Property settlement • Consider the division of income- Spousal Maintenance Parenting Matters- • Organise the time children spend between their parents Divorce- • Formalise the end of the marriage
  • 8. When it comes to financial matters, my clients are trying to- Divide their assets/ income in a manner that provides them with some certainty for the future And then there is the law!!
  • 9. 1. What do you have? 2. How did you get it? 3. What about the future? 4. Is it ‘just and equitable’
  • 10. A few Misnomers! • It starts at 50/50, doesn’t it? • Women always get more, don’t they? • Superannuation won’t count, will it? • Once you separate, it is ok- anything you make afterwards is yours, isn’t it?
  • 11.
  • 12.
  • 13.
  • 14. • Generally in providing strategic advice as you always would • As a financial educator • In assisting separating couples to see past the division to being able to recreate their future • In working with legal advisors and clients to prepare and consider different financial options for settlement and to test those options before events such as mediation • To gather information, such as insurance, superannuation and other items in an asset pool • As a support to your client
  • 16. What is Collaborative Practice? A structured resolution process for separated couples where, with the assistance of an advisory team, they are encouraged to settle their differences through face to face meetings with a commitment from all involved that they will not go to Court.
  • 17. How are Financial Planners involved? 1. Acting for an individual client during the process often in a role of ‘financial educator’ 2. Advising both parties in the process on the financial options and outcomes 3. Assisting clients moving out of the process with their future financial management
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  • 19. • Husband aged 54 and Wife 44. • They had been married for 19 years. • There were 2 children 13 and 11. • At the time of my involvement the husband had 3 case guardians appointed to make decisions on his behalf pursuant to a QCAT Order. The guardians consulted with me and with the wife, chose the collaborative process.
  • 20. Goals and Interests of the Parties • Wife and Husband’s Litigation Guardians had similar goals and interests, focused on continuing financial security. • Wife had difficulty meeting her monthly expenses and she wished to be in a better position regarding this. • Husband’s Litigation Guardians wanted to be able to continue to pay Husband’s considerable medical expenses out of the property settlement.
  • 21. Property Value Husband’s Cash at Bank – All Accounts $164,000 Wife’s Cash at Bank – All Accounts $10,000 Wife’s Superannuation $10,113 Husband’s likely Tax Bill ($12,000) Possible Centrelink debts and Professional Claims ($7,000) Possible Debts to Colin ($15,000) TOTAL POOL $150,113 In addition the husband had superannuation and a UK Pension and was receiving income protection insurance of around $87k per annum
  • 22. Decision was made to engage a Financial Planner as part of the process to- • Provide information as to the budgets of each of the parties. • Assist with obtaining information about the assets, liabilities, insurance and superannuation (as husband’s were in part overseas) • Provide specific advice of the parties options with the husband’s income protection insurance and overseas superannuation/pension
  • 23. The Financial Planner was able to- • Assist in calculating and identifying the asset pool • Assist with financial education including realistic budgeting • Obtain information regarding the husband’s income protection payment and give the parties clear information about their options regarding this payment • Total payment approximately $87,000 a year divided between parties
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  • 25.
  • 26. How are Financial Planners involved? 1. Acting for an individual client during the process often in a role of ‘financial educator’ 2. Advising both parties in the process on the financial options and outcomes 3. Assisting clients moving out of the process with their future financial management