$100k divorce?! Understanding the financial costs of separation
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Now, given there's over 50,000 divorces each year in Australia and lawyers and psychologists are all reporting an uptick in inquiries from people thinking about separation and divorce at the moment, it's high time that I start talking about it on the podcast. So in today's episode, to provide some grounded advice on this topic, I've got Gabrielle Canney, the National Legal Aid Director and AMICA Project Chief, which is a pretty cool app. And we'll talk about that a little bit more in this episode. So Gabrielle, welcome onto the Australian Finance Podcast today.
Thank you very much for having me. This is a very interesting topic and so I've got plenty to tell you.
Yes. And from our pre-chat, I know that you're very excited and passionate about this. So I'm really excited to share what you've got to tell us, especially about such a complex topic that, I mean, I feel a bit disappointed that we've never spoken about it before on the show. So definitely well-timed to do it today. And Deciding to separate is one of the hardest things that people can ever do and making property and financial decisions you need to move on is usually viewed as a very expensive and painful process. I mean, we all see the movies with heaps of fights and arguments, and I'm sure many of us know someone, whether it's our parents, our grandparents, our aunts and uncles, who's been through this process and may have a very positive or negative experience.
And I'd really like to start by defining divorce and separation and how this process usually works and what a typical couple would do in this.
Yeah, sure. Well, I mean, for most of us, particularly with that sort of the first relationship, that's a long relationship, whether it be a de facto relationship or a marriage, to come to the point where you're going to separate And sometimes it takes a while, sometimes it unfortunately comes out of the blue, but most people haven't been through it before. They absolutely don't know what they don't know. And it's not a topic of conversation that people sort of bring up willingly so that they're storing up information just in case. And so it often catches people unaware of what to do next. So for people who have married, if they decide to separate, then they'll be thinking about a divorce.
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