Prepare a Property Division Worksheet

Illinois
Property Division Worksheet

illinois property division worksheet

Wisconsin
Property Division Worksheet

image wi property division worksheet

Frequently Asked Questions

How do you divide property in a divorce?

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.

How is marital property divided?

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.

What are considered marital assets?

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.

What is a 50/50 state when it comes to divorce?

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.