My house or yours?

Invariably within any household there is inequality in terms of income. Decisions are often made that one parent will be the ‘bread winner’ whilst the other will be the ‘home maker’ and ‘carer’ for the children of the family. Those practical decisions work when the family is together as a whole but what happens following a separation?

One house becomes two, two incomes become one.

The parent who assumed the role of home maker may struggle to make ends meet, may need to secure employment or an increase in working hours whilst the other parent may see little change in their financial need and obligations.

Common question I hear during collaborative meetings are – how are we going to manage? How am I going to be able to afford a house let alone a house close to the children’s school? I won’t be able to afford to meet all of the financial demands myself?

Children may experience very different lives at each of their respective parent’s homes – enjoying the luxuries they were used to as a family with one parent whilst living a more modest life with the other.

It doesn’t have to be this way.

Part of the collaborative process enables separating couples to discuss how they are going to afford to make ends meet and where there are shortfalls how those needs can be met from the asset pool. The separation process is never easy and should not be one in which the children suffer the consequences of their parents separation. With determination and focus throughout the Collaborative process on the needs of the children of the family, financial shortfalls can be remedied. 

Contact Bayside Collaborative for more information www.baysidecollaborative.com.au