Regardless of whether you initially see a lawyer or not, one of the things that you’ll need to do is to put together a list of everything you and your partner own and have, whether jointly or in your own separate names.
Basically, it’s a list of what savings, cars, motorbikes, real estate, shares, superannuation, home loans, credit cards and personal loans you and your partner have or own. Even if you don’t think you’ll ‘touch one another’s super’ or you’ll agree to exclude certain things from your final agreement, you need to list it.
The point of this exercise is to work out The Pie—what’s available to split between you and your partner. The law says that this is really the first step involved to work out what a ‘fair’ split of the finances is.
You don’t necessarily need to go to a lawyer to get this exercise done. You can do it yourself by writing out your own list.
We’ve made life a bit easier and have created a system where you answer some questions about finances and for a small price (cheaper than a lawyer!) you’ll receive a spreadsheet that nicely sets out The Pie, with auto calculations.
We’ve called this product ‘The Pie’. You can purchase it from our Online Store.
Read our Part 2 on what do with The Pie (coming soon!).