The house is usually the biggest divorce decision

When it comes to divorce, the family home is often the biggest financial asset to consider. For many couples, the family home represents a significant portion of their overall wealth. But after separation, important decisions need to be made, should one person keep the home and buy the other person out, should the home be transferred as part of the settlement, or is selling the property the best option? The good news is that, in Australia, your main residence is generally exempt from capital gains tax when it is sold, meaning tax may not be the deciding factor. Instead, the decision often comes down to your personal circumstances, financial position, and whether there are other assets available to support a settlement. Every divorce settlement is different, and understanding how your property, investments, superannuation, and cash flow fit together is essential when making these decisions. Working with your financial adviser and legal professionals can help you create a strategy that supports your financial future after separation. Always seek personalised financial and legal advice based on your individual circumstances. General advice only. Amy Lehmann is an Authorised Representative (No. 1292710) of Consortium Private Wealth Pty Ltd (AFS Licence 495401).

Disclaimer || The information provided in this post is general in nature only and does not constitute personal financial advice. Amy Lehmann is an Authorised Representative(No. 1292710) of AFSL 495401.