• Personal
  • Employers
  • Advisers
  • Calculators & forms
  • News Hub
  • Contact us
QSuper QSuper
  • Products
    • Why QSuper
    • Can I join QSuper
    • Investment options
    • Fees
    • Financial advice
    • Compare us
    • Insurance
    • Account types
      • Accumulation account
      • Transition to Retirement Income account
      • Retirement Income account
      • Lifetime Pension
      Why QSuper?

      A focus on strong performance

      More reasons to feel good
  • Super
    • Grow your super
      • Salary sacrifice
      • Super co-contribution
      • Voluntary contributions
      • Spouse contributions
      • Contribution caps
      • Tax deductions
    • Consolidate your super
    • Find your lost super
    • Changing jobs
    • Nominate beneficiaries
    • Early access
    • Seminars and education
  • Retirement
    • Why retire with QSuper
    • Retirement accounts
      • Transition to Retirement Income account
      • Retirement Income account
      • Lifetime Pension
    • Retirement planning
      • Make your super last in retirement
      • The Age Pension and Super
    • How much super do you need to retire
    • Access your super
      • When can you access your super
      • Withdraw your super
    • Seminars and education
      Award-winning

      Money magazine’s Best Retirement Innovator 20232

      Find out more
  • Investments
    • Investment options
      • Lifetime
      • Moderate
      • Balanced
      • Socially Responsible
      • Aggressive
      • Cash
      • Diversified Bonds
      • Australian Shares
      • International Shares
      • Self Invest
    • Performance
      • Overview
      • Graphs
      • Unit prices
    • Online investment advice
    • Compare options
    • Change your investment options
    • How QSuper invests
    • Investing your super
  • Insurance
    • Insurance options
      • Income protection
      • Total & permanent disability cover
      • Death cover
    • How much insurance cover do you need
    • Change or cancel your insurance
    • Make an insurance claim
  • Advice
  • Calculators & forms
  • News Hub
  • Contact us
Join
  • Call
Join Log In - Open navigation
Member Online

Forgot username?
Forgot password?
Register

Navigation

QSuper
  • Personal
  • Employers
  • Advisers
  • Search
  • Join Log In
  • Products Expand
    • Why QSuper
    • Can I join QSuper
    • Investment options
    • Insurance
    • Fees
    • Financial advice
    • Account types Expand
      • Accumulation account
      • Transition to Retirement Income account
      • Retirement Income account
      • Lifetime Pension
    • Compare us
  • Super Expand
    • Consolidate your super
    • Grow your super Expand
      • Salary sacrifice
      • Super co-contribution
      • Voluntary contributions
      • Spouse contributions
      • Contribution caps
      • Tax deductions
    • Find your lost super
    • Changing jobs
    • Nominate beneficiaries
    • Early access
    • Seminars and education
  • Retirement Expand
    • Why retire with QSuper
    • Retirement accounts Expand
      • Transition to Retirement Income account
      • Retirement Income account
      • Lifetime Pension
    • How much super do you need to retire
    • Retirement planning Expand
      • Make your super last in retirement
      • The Age Pension and Super
    • Access your super Expand
      • When can you access your super
      • Withdraw your super
    • Seminars and education
  • Investments Expand
    • Performance Expand
      • Overview
      • Graphs
      • Unit prices
    • Investment options Expand
      • Lifetime
      • Moderate
      • Balanced
      • Socially Responsible
      • Aggressive
      • Cash
      • Diversified Bonds
      • Australian Shares
      • International Shares
      • Self Invest
    • Online investment advice
    • Compare options
    • Change your investment options
    • How QSuper invests
    • Investing your super
  • Insurance Expand
    • Insurance options Expand
      • Income protection
      • Total & permanent disability cover
      • Death cover
    • How much insurance cover do you need
    • Change or cancel your insurance
    • Make an insurance claim
  • Advice
  • Your account Expand
    • Super Expand
      • Transactions
      • Statements and History
      • Investments
      • Performance
      • Financial Advice
      • Insurance
    • Profile Expand
      • Personal details
      • Security
      • Authorities
      • Employer
      • Beneficiaries
    • More Expand
      • Contact us
  • Calculators & forms Expand
    • Superannuation & Retirement Calculators Expand
      • Super and retirement planning calculators
      • Retirement planning
      • Insurance
      • Maximise your super
      • Savings
      • Investing
    • Forms Expand
      • All
      • Forms for claims, withdrawals, and transfers out
      • Forms for deposits, contributions and transfers in
      • Insurance forms
      • Investments
      • Transfer
      • Other forms
    • Publications Expand
      • PDS
      • Guides
      • Annual reports
      • Factsheets
      • Other publications
      • Target Market Determination
  • News Hub Expand
    • Category Expand
      • News
      • Superannuation
      • Retirement
      • Finances
      • Investments
      • Community
      • Wellbeing
      • Employer
  • Contact us Expand
    • Email QSuper
    • Language assistance
    • Browser support
    • Formal enquiries and complaints
    • FAQs – Frequently Asked Questions

News Hub

All Articles News Superannuation Retirement Finances Investments Community Wellbeing
News Hub Finances

Rebuild your finances after divorce

Finance
19 February 2020 2 min read

The end of a relationship can be a big change for your life and for your finances. These steps may set you on your way to rebuilding your financial wellbeing after divorce.

Rebuilding Finances After Divorce

It may feel overwhelming, but starting to rebuild financially after divorce begins with sorting out immediate issues.

First steps

Take care of immediate logistics, including finding out how your finances were organised when you were a couple, and how to manage your finances moving forward.

ASIC’s Moneysmart website1 says your first steps should include protecting your finances.

Actions to consider may include:

  • Closing joint accounts. Establish your own pool of money and redirect your pay into your own account. Make sure your partner can’t access your account and consider cancelling joint credit cards.
  • Updating your bills and any rental agreement because you are liable for any unpaid bill if your name is on the account.
  • Taking your former partner off any third party authority lists. This will prevent them calling financial institutions and requesting details of your accounts, including your super.
  • Changing your passwords and online access to accounts, including your online banking PIN and email account.
  • Taking stock of all your assets and liabilities. Understand your assets, debts and joint responsibilities. Your asset list includes your super.
  • Check whether you may be eligible for any government or other assistance.

You may like to access Moneysmart’s Divorce and Separation Financial Checklist on how to separate your finances and get your money on track. It covers the major things from separating bank accounts and credit cards, to dividing your assets and managing your income and expenses.

See how to avoid falling into financial stress with QSuper’s FinFit.

If you separate suddenly

If you separate suddenly and do need to leave home urgently, it is important for getting control and regrowing your finances for you to take your legal and financial papers with you. Legal Aid Queensland2 suggests taking documents including:

  • Birth and other certificates
  • Wills
  • Passports
  • Visas
  • Bank and cheque books
  • Superannuation, tax and other financial papers.

Seek expert advice

When you separate, there are avenues for free legal advice. Legal Aid agencies and community legal centres are available in every state and territory and can provide free legal advice.

Also consider seeking expert financial advice. QSuper members have access to financial advice about superannuation and managing your money through QInvest.3

Your superannuation

Getting your superannuation sorted after your relationship ends is an important step in planning for your future.

Once you separate or get divorced, super is treated as a type of property and can be divided by agreement or by court order. Splitting your super does not convert your super into a cash asset.4 It is still subject to superannuation laws, which means, for example, that it is usually retained until retirement ages are reached.

Large imageSmall image

The financial hit of divorce

  • The value of assets owned by a divorced man is 67% less than a married man of a similar age and socio-economic background.
  • A divorced woman has assets valued at 90%  less than a married woman (all other things being equal). These differences are largely caused by the difference in assets held in the form of house ownership and superannuation.
  • Super balances for divorced women are 70% less than married women, and 28% lower for divorced men compared with married men.

Graphic Source: Brown,L, December 2016, Divorce: For richer or poorer, AMP.NATSEM Income and Wealth Report

See our 7 things to do for your super after separation.


1. Australian Securities and Investments Commission, Moneysmart, Divorce and separation, accessed 20 December 2019 at www.moneysmart.gov.au/life-events-and-you/life-events/divorce-and-separation) 2. Legal Aid Queensland, Separation and divorce, accessed 21 March 2019 at www.legalaid.qld.gov.au/Find-legal-information/Publications/Legal-information-guides/You-and-family-law-a-short-guide/Separation-and-divorce) 3. QInvest Limited (ABN 35 063 511 580, AFSL 238274) is a separate legal entity responsible for the financial services it provides. When you receive personal advice from QInvest, the QSuper Board may pay for some or all the advice fee for advice related to your QSuper benefit. Eligibility conditions and advice fees may apply. Refer to the Financial Services Guide for more information. 4. Federal Circuit Court of Australia, Family Law matters: Superannuation, accessed 20 December 2019 at www.federalcircuitcourt.gov.au/wps/wcm/connect/fccweb/family-law-matters/property-and-finance/superannuation/superannuation

Related Content
suddenly single header image Take charge of your financial wellbeing as a single woman
28 Feb 6 MIN READ

How to get control of your finances as a single woman after divorce or loss of your partner.

Read more
Finance
IF YOU ENJOYED THIS ARTICLE, YOU MIGHT ALSO LIKE...
suddenly single header image Take charge of your financial wellbeing as a single woman
28 Feb 6 MIN READ

How to get control of your finances as a single woman after divorce or loss of your partner.

Read more
Finance
super separation Separation and super: 7 things to do
27 Sep 6 MIN READ

Divorce is not just an emotional upheaval – the impact on your finances can also be substantial. QSuper explains the initial actions to take.

Read more
Superannuation
super and divorce Separation and super splitting
23 Feb 5 MIN READ

Find out how super is split after a separation

Read more
Superannuation
25 years financial advice 25 years of financial advice
06 Mar 6 MIN READ

QInvest: How financial advice has evolved over a quarter of a century

Read more
Finance
All Articles News Superannuation Retirement Finances Investments Community Wellbeing
  • Our products
    • Why QSuper?
    • Investment options
    • Fees
    • Insurance
    • Financial advice
  • Super & retirement
    • How much do you need?
    • Grow your super
    • Consolidate
    • Changing jobs
    • Seminars
    • Access your super
  • Investments
    • Performance
    • Unit prices
    • Graphs
    • Compare options
  • Calculators & Forms
    • Calculators
    • Forms
    • Publications
    • PDSs
    • TMDs
    • Member Outcomes Assessment
  • Contact us
    • 1300 360 750
      Mon-Fri 8.00am to 6.00pm AEST
  • About us 
  • Careers 
  • Sitemap 
  • Privacy 
  • Security 
  • Disclaimer 
  • Terms and conditions 
  • Disclosure 
We're part of Australian Retirement Trust
2020 awards
Facebook Twitter LinkedIn YouTube