Prepare a Property Division Worksheet

It is no easy task to divide property, especially in long-term marriages. The best way to do it is to break it down into manageable pieces. Using a template for something like this such as the template above helps keep things straight. Try to keep a level head and think about what is best for both parties.

Marital property is usually divided 50/50 between the parties. Marital property refers to the property that both parties own such as money earned during the marriage. However, in some states, marital property is not split 50/50. In those states, the court divides marital property based on what each party deserves.

Marital assets are assets earned during the marriage. Marital assets can also be non-marital property that gets commingled through shared use. For example, a house that was used throughout the marriage is a marital asset.

A 50/50 state means all marital property is split 50/50 down the middle. You can’t break everything in half, so you need an understanding of what each of the assets is worth. In these states, if one party keeps a car that is fully paid off, the other party needs to get something of equal value.