Dividing finances and assets

What to think about

There’s a lot to consider when separating assets and finances. You’ll both need to think about what you shared during the relationship and work together to decide who gets what.

Assets to consider may include:

• mortgages or loans
• utilities like electricity, gas and phone accounts
• joint bank accounts
• businesses
• properties
• cars, boats and other transport
• shares or investments.

Find a divorce and separation financial checklist on the Moneysmart website.

Understanding your entitlements

You may want to understand what your rights and entitlements are. These can vary, depending on:

• how long you and your ex-partner were together
• if you have children 
• if you have shared assets
• what was purchased prior to and during your relationship.

There are resources that can help you to understand and make informed choices. These links will take you away from myGov.

Setting up a budget

You may also need to budget to help manage your money. Find out how to do a budget on the Moneysmart website.