Doing divorce right: The financial checklist I wish everyone had

Nobody gets married expecting to get divorced.

Which is exactly why so many people find themselves trying to make some of the biggest financial decisions of their lives at the same time they're navigating one of the most emotionally exhausting periods they'll ever experience.

I've been there.

And while I would never wish that experience on anyone, it has given me something invaluable—the ability to help other people avoid some of the mistakes, stress and financial consequences that often come with separation.

This isn't an exhaustive list, and it certainly isn't personal advice. Every family, every wealth portfolio and every settlement is different.

But if you're separating, these are the things you should be thinking about before you sign anything.

The "Don't Regret It Later" Checklist

✓ Know exactly what you own (and owe)

Before assets start being divided, gather every financial document you can find.

That means bank accounts, mortgages, superannuation, investments, insurance policies, tax returns, business records, trusts, companies, property documents, loan statements, jewellery valuations, wills and estate planning documents.

It might feel unnecessary.

It isn't.

Having one complete picture of your finances can save enormous amounts of time, money and frustration later.

✓ Understand what your new life will actually cost

One of the first things I do with clients is build a simple budget.

Not because budgets are exciting—but because clarity is.

Work out what life costs today, then estimate what it'll cost after separation. Housing, groceries, children's expenses, insurance, transport... everything.

You won't know every number yet, and that's okay.

A realistic budget doesn't just help you plan your future—it often strengthens your negotiating position during settlement.

✓ Don't treat super like "future you's problem"

One of the biggest mistakes I see is people dismissing super because they can't access it yet.

Please don't.

An extra $100,000 in super today could significantly change what retirement looks like decades from now.

Super splitting isn't always as simple as "50/50". It depends on the overall settlement, future earning capacity and, where children are involved, the broader care arrangements.

The decisions you make now will still matter long after the divorce is finalised.

✓ Review your insurance

Insurance becomes surprisingly complicated during separation.

Who owns the policy?

Who is insured?

Who receives the benefit?

Is it owned personally or through super?

These details matter.

Now is the time to review your cover, update beneficiaries, cancel policies that are no longer appropriate and make sure the people you're trying to protect are actually protected.

✓ Update your estate plan

Many people don't realise how quickly estate planning becomes outdated after separation.

Review your:

• Will

• Enduring powers of attorney

• Superannuation beneficiaries

• Trust documents

• Guardianship wishes

• Health directives

• Funeral instructions

The goal isn't simply to update paperwork.

It's to make sure your wishes are clear and your loved ones aren't left with unnecessary complications later.

✓ Think about tax before making big decisions

Some of the most expensive mistakes during divorce aren't investment mistakes—they're tax mistakes.

Selling investments.

Transferring assets.

Keeping one property over another.

Accessing super.

Each decision can have tax consequences that aren't immediately obvious.

A little advice before acting can save thousands—or sometimes tens of thousands—of dollars.

✓ Check whether you're entitled to government support

Many people who were never eligible for Centrelink payments as a couple become eligible after separation.

The important thing to know is that payments aren't always automatic.

If you don't apply, you generally won't receive them.

It's worth checking what assistance may be available while you're rebuilding financially.

✓ Don't make investment decisions from fear

Separation creates uncertainty.

Uncertainty often creates fear.

Fear leads people to act without thinking and do things like sell everything, sit in cash or make rushed decisions simply because they want certainty.

Unfortunately, those decisions can hurt your future self and your ability to live well.

Before making major investment changes, understand the tax implications, transaction costs and long-term impact—not just what's happening in today's market.

✓ Build the life you're actually working towards

The settlement isn't the finish line.

It's the starting point.

One of the most rewarding parts of my role as an adviser is watching clients move from surviving their divorce to creating a life that genuinely reflects what matters to them.

Financial independence.

Choice.

Confidence.

Purpose.

The paperwork eventually ends.

Your next chapter is just beginning.

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Divorce is one of life's biggest transitions.

You can't control every outcome, but you can make financial decisions that support the life you want to build next.

Because doing divorce right isn't about getting the biggest settlement.

It's about creating the strongest possible foundation for the life you want to live.

Clear vision. Better decisions. More choice. Live well.