I have supplied my ex with an initial asset and liability breakdown with all information. She insists all we need is the total of this divided by 2 and that’s the payout. I will be assuming nearly all the debt, including the mortgage.
Should the correct method be to have the total of all assets and liabilities and who they belong to figured. Then break down who is taking what item with them and assuming that? Once those totals are calculated, the balance is then divided in two.
ex. total asset liability = (me = 80k and her (-9k) for a total of 71k.
I would assume most of the family debt (in my name anyway) and split the assets.
me = 42k and her 29k for a difference of 13k. Divide that by two for the payout of $6,500.
Is this correct? This has bee so emotional in how she left and what should make simple sense is wearing me out.
The proper way to calculate an equitable distribution distributive award, which is payment from one spouse to another to equalize the distribution of the assets in debts, is to distribute the property to Husband and Wife, total the net assets and debts that each party is receiving, find the difference, and divide by 2.
For example, if Husband is keeping $50,000 in total net assets and debts and Wife is keeping $20,000 in total net assets and debts, then the difference is $30,000. Half of $30,000 is $15,000, so in this scenario, Husband must pay Wife $15,000 so that each party receives an equal $35,000 in net assets and debts.
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