How to Protect Your Assets During Divorce in NSW

Divorce can be emotionally draining — and financially complex. When a relationship ends, one of the biggest worries many people have is: “How can I make sure my assets are protected?”

Whether you own a home, a business, or simply want to safeguard your future savings, it’s important to understand your rights and take practical steps early.
At Wallen Family Law, we help clients across Wollongong and NSW make informed, confident decisions to protect what matters most.

1. Start by Understanding the “Property Pool”

Under the Family Law Act 1975, all property owned by either party — individually or jointly — can form part of the asset pool to be divided.
This includes:

• Real estate (including the family home)

• Bank accounts, shares, and investments

• Superannuation

• Vehicles, personal property, and valuables

• Business interests

• Debts and loans

Even assets held in one person’s sole name may be considered part of the shared property pool if they were acquired during the relationship or improved using joint resources.

Knowing what’s in (and out of) the asset pool is the first step in protecting your interests.

2. Keep Complete and Accurate Financial Records

Transparency is key. Keep copies of:

• Bank and superannuation statements

• Loan and mortgage documents

• Business and tax records

• Inheritance or gift documentation

If assets are missing or funds have been withdrawn, this documentation can help trace where they’ve gone — an important protection if the other party is concealing or wasting property.

3. Avoid Transferring or Hiding Assets

It’s tempting to move money around when you’re scared of losing it — but doing so can backfire badly.
Hiding assets can seriously damage your credibility.

Instead, speak to your lawyer before making any changes. There are lawful ways to preserve and safeguard assets without breaching your obligations of disclosure.

4. Secure Joint Accounts and Financial Access

If you have joint bank accounts or credit cards:

• Notify your bank of the separation

• Consider changing access or requiring dual authorisation for withdrawals

• Freeze unnecessary credit cards

• Update passwords for personal accounts

These steps help prevent unauthorised spending and protect your financial position while things are being resolved.

5. Act Quickly — Time Limits Apply

If you’re married, you generally have 12 months from the date of your Divorce Order to finalise a property settlement.
For de facto couples, it’s two years from the date of separation.

Delaying action can make protecting your assets much harder, especially if the other party sells or transfers property in the meantime.

6. Get Legal Advice Early

Every relationship and financial situation is unique.
Getting clear legal advice early can help you:

• Identify risks before they arise

• Negotiate fair agreements

• Take practical steps to safeguard your property and future financial stability

At Wallen Family Law, we combine empathy with strategy — guiding you through separation with clarity, confidence, and protection.

If you’re separating or thinking about separation, our team can help you understand your rights and take steps to protect your assets.
📍 Based in Wollongong, we assist clients across NSW.
💬 Book your free 15-minute consultation today to get clear advice on your next steps.

Disclaimer: This article provides general information only and should not be relied upon as legal advice. Every family law matter is unique and requires specific legal guidance. Always seek professional legal advice for your specific situation.