Once a marriage or a de facto relationship has been terminated by both parties, the practical thing to do is to prepare to split all the assets the relationship has accrued. Planning for a future without the ex-partner entails the task of first collating known assets, then deciding on division, care for children and financial support for children, if any.
The best way to do this, before getting the agreement formally legalised in court, is to use a separation asset division calculator like Dekindle and work out for yourself an accurate estimation of what you can expect from the property settlement.
Firstly, answer all the relevant questions in the Dekindle form, providing accurate detail. Once completed, the resultant asset division will give you an accurate estimate of what your share in the accumulated assets will be.
Which Assets & Liabilities Are Considered In A Split?
People are often confused about what constitutes the assets in a relationship. Here is a brief list of some
likely assets:
- Family home
- Bank accounts
- Cash
- Investments
- Businesses
- Insurance policies
- Superannuation
- Inheritances
- Shares
- Jewellery
- Vehicles, boats, caravans, etc
- Furniture
- Investment assets
When calculating the property settlement split, you will also need to input the liabilities in the union. Examples include:
- Debt
- Mortgages
- Loans
- Credit cards
- Personal debt
- Exorbitant spending
Dekindle’s unique calculator ultimately determines an equitable division of the assets for both parties.