Divorce splitting assets worksheet
A conversation about a divorce is usually an awkward one since no one plans on getting divorced and dividing assets you have acquired over the years is a painful reality of a divorce. But when you are ready to part ways with your partner, you have to move forward with dividing your debts and assets. This spreadsheet can help you with things such as making negotiations with your spouse and/or their lawyer, weighing your options and it can be attached to the final agreement.
Divorce asset splitting worksheet Download
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When it comes to dividing assets, it is not equitable to divide every debt or asset equally and this worksheet will clarify the ownership of various assets. Also, it enables one to fill in all the debt and/or property (joint and separate) and give it to the partner who desires it. The couple will then see the division of property ownership and how best to work through the division of assets. It will be easy to identify the spouse who owns the most assets and how to fairly allocate funds based on the ownership of assets and have equitable solutions.
Divorce Asset Division
When major assets like retirement and pension plans, stock options, restricted stock, deferred compensation, professional practices and licenses, rental property, houses, closely-held businesses, and brokerage accounts are involved, dividing the family’s property can be a serious issue. It can be quite difficult to determine who gets what even when things seem straightforward. If you’re having a contentious divorce, it can slow down the whole process even further.
Dividing assets on the basis of the current value (in dollars) is not necessary. You have to look at the long-term and short-term financial security of the assets you are getting. In most cases it’s normally difficult to tell the real value when you haven’t done enough research on the asset. Things to focus on include any tax implications that come with its sale, the cost basis and its liquidity.
Divorce refinance buyout options
Contact the Cain Mortgage Team to speak with a proven, professional, mortgage lender to help you find the easy path to a new mortgage or refinance an existing one. As a Certified Divorce Lending Professional (CDLP), we can give you advice that will be critical in obtaining your next mortgage. For example, in order to count alimony as qualifying income, you must provide six months of receipt! So, if you have been a non-working spouse, make sure part of your negotiations is to start alimony at least six months prior to the final divorce date. If the income starts once the divorce is final, then the non-working spouse would be required to wait at least six months before purchasing a house unless a job is obtained.
Call us today so that we can assist with getting you back on your feet and headed in the right direction for your home mortgage needs.