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There’s no escaping it—dissolving a marriage or civil union, or ending a de facto relationship, are life-altering experiences. You’ll learn a lot about yourself, your ex, your friends, and your family: the good, the bad, and the ugly. It’s a time of complex emotional upheaval and financial uncertainty, before you hopefully reach acceptance, growth, and happiness. If you are at the start of this journey towards your new life , read this article. It’s important you are aware of common pitfalls and financial missteps to avoid during separation. Mind the gap: not having a true picture of your financial position It is critical to gain a comprehensive and accurate understanding of your financial position. A dissolution or the breakdown of a cohabiting relationship inevitably leads to a significant change in financial circumstances, so failing to account for these changes can lead to poor decisions and unfair settlements. Common assets that need to be considered include: The family home Savings Investments Property Kiwisaver funds (Superannuation) Chattels and vehicles Shares Understanding the true value of assets is key to negotiating a fair settlement. However, people often underestimate the complexity of the valuation process, especially when the true value of some assets, like Kiwisaver funds, is not immediately apparent.  Dividing assets is not a straightforward task. Work with family lawyers in Christchurch NZ who specialise in relationship property to ensure assets are accurately valued so you have a clear picture of the reality of your finances. Seeking the best legal advice ensures you make informed decisions and consent only to a fair deal.

Discover thoughtful and expert advice on getting engaged with a prenuptial agreement at WWL. Start your journey towards a harmonious future together.

Find clarity and expert advice on handling relationship property for a fresh start. WWL is here to guide you through the complexities of asset management.

Learn how your future could be cared for and supported with an application under the Protection of Personal and Property Rights Act 1988.

Explore the essentials of shareholder agreements with WWL NZ. Gain expert knowledge on structuring agreements for your business. Start here.