Four key tips:

1. Choose cash now

Take a lump sum settlement even if it is a smaller amount than a periodic payment. This creates certainty for you in terms of this.

2. Consider the rest of the fight

Many people simply consider the cost of the lawyer compared to the amount they may gain by continuing legal proceedings or a legal battle. That is definitely one consideration. On the other hand, we increasingly see the emotional side. Some clients are unable to work or concentrate on family until matters are resolved. Many people will walk away with perhaps less than they might be entitled to on the basis that they will be able to move on with their lives and operate normally again. Think like a business person in making a decision.

3. Adopt to change quickly

Clients often want to keep the family home for the sake of the children. They may have lived in the property for many years. This may not be financially realistic. It may make little difference to the children if they can relocate in the same suburb. In our view you need to keep options open.

4.Don’t make quick decisions about major commitments

Many people buy another home weeks after separation. The economics of this decision may not be wise. They could have such massive financial commitments that they have no money left over at the end of the week. Also, make sure you are in the right emotional space before making big decisions.

“The information posted on this website is prepared for a general audience, without investigation into the facts of any particular case. This information is no substitute for legal advice and does not create a lawyer-client relationship; you are advised to consult with a lawyer on any legal issue.”