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CFL Financial location Level 9, 360 Queen Street Brisbane, QLD 4000
fax CFL Financial 07 3328 8999
phone CFL Financial 07 3328 8988
Email CFL Financial mail@cflfinancial.com.au

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Retire in style checklist™

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If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

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The Retirement Prosperity Guide™

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If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

Protecting your finances after separation

Posted on Feb 8, 2017 by CFL Financial

The end of a relationship is a particularly difficult time for most individuals – among the emotional pain comes the burdensome administrative tasks such as sorting out finances.

Although these tasks may seem tortuous/complicated; it is best to promptly address financial issues to safeguard your finances against misuse and ensure a piece of mind.

Here are three things to consider when protecting your finances after separation:

Joint accounts
If you think your former partner may exploit your finances, it is worth considering closing your joint accounts. Both account holders need to agree that the accounts should be closed. You will need to discuss how the remaining balance will be divided with your former partner, as you must have zero funds in the account before closing it. It is then necessary to establish your own account and redirect any direct debits or credits from your joint account to your new account (or make alternative arrangements).

Your will and power of attorney
Your will may not be the first thing to come to mind after a breakup, however, it is a critical document that needs to be reviewed, especially if your former partner is listed as a beneficiary or executor. After separating, review your will with a legal professional to make any necessary changes. If you appointed your former partner as your power of attorney, you may also consider revoking them upon separation. Again, a legal professional can aid you with this decision.

Home and other joint loans
Upon separation, it is best to advise any lender/s of your separation and the arrangements for paying the loan. Notify your bank if you wish to discontinue any redraw facilities or linked credit cards attached to your loan. Ask your bank for a written confirmation letter and keep a copy in case there are any issues down the track.

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

Retirement-prosperity-thumbnail

The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

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Phone: 07 3328 8988
Fax: 07 3328 8999

Office Location:
Level 9, 360 Queen Street
Brisbane
QLD 4000

Postal Address:
GPO Box 2468,
Brisbane,
QLD, 4001

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