1. What is Divorce Settlement?

A divorce settlement is the division of assets and liabilities between spouses during a divorce. The calculator provides an estimate based on the equal division principle, where net assets (assets minus liabilities) are split equally between both parties.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• \( Assets \) — Total value of all marital assets ($)
• \( Liabilities \) — Total value of all marital debts and obligations ($)

Explanation: The formula calculates the net marital estate (assets minus liabilities) and divides it equally between both parties.

3. Importance of Settlement Calculation

Details: Accurate settlement calculation helps ensure fair distribution of marital property, prevents disputes, and provides a basis for negotiation or mediation.

4. Using the Calculator

Tips: Enter all marital assets and liabilities in dollars. The calculator assumes equal division, which is the default in many jurisdictions but may vary based on local laws.

5. Frequently Asked Questions (FAQ)

Q1: What counts as marital assets?
A: Typically includes property acquired during marriage, such as homes, vehicles, bank accounts, investments, and retirement accounts.

Q2: Are all debts included in liabilities?
A: Generally includes mortgages, credit card debts, loans, and other obligations acquired during marriage.

Q3: Is the settlement always 50/50?
A: While many jurisdictions use equal division, some consider factors like marriage duration, earning capacity, and individual contributions.

Q4: What about separate property?
A: Property owned before marriage or received as gifts/inheritance may be excluded, but laws vary by jurisdiction.

Q5: Should I consult a lawyer?
A: Yes, this calculator provides estimates only. Always consult a family law attorney for legal advice regarding your specific situation.