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How To Estimate Property Equalization
Find out how to estimate property equalization and think about finances when going through a divorce.
If you’re thinking about getting divorced or dissolving a civil partnership, this calculator can give you an idea of your financial situation before a potential divorce settlement. It will also help you work out what you have, what you owe and how you might split assets and finances.
No personal details are collected
Your use of the divorce and money estimator spreadsheet is anonymous and your information is confidential.
You can use exact or approximate figures and do not have to enter a partner’s details. If you put in approximate figures, you will get a rough idea of your financial situation and potential divorce settlement.
What you need to know
What you need to know to complete the Divorce and Equalization estimator:
The value of any properties and assets you own.
What you still need to pay off on your mortgage.
Any outstanding debts you have (credit cards, loans…).
Equalization Estimator Spreadsheet Screenshots
Step 1 - Create a new budget and stick to it
When you separate, you are likely to face a new set of bills as one household income becomes two. Work out your new budget as soon as possible with our helpful tools and advice.
Step 2a - Property you or your partner own
Include the value of all properties owned. Only include the value of property acquired from the date you married up to the date you separated (unless the property was used as a family home before marriage).
Step 2b - Work out what you own
This can give you an idea of assets you might have to split when reaching a financial settlement. This list is not exhaustive and you should think carefully about all assets that you or your partner have. Only include the value of assets acquired from the date you married up to the date you separated.
Step 2c - Work out what your debts are
When you separate, it’s important to know what your debts are, especially joint debts. Contact your creditors immediately if you think you will have difficulty paying. You can also contact a debt advice agency.
Step 3 - Equalization Results
Schedule an Early Neutral Consultation to develop “splitting scenarios” – where you divide up the money, property and debts between you.
Ken S. Maynard is an Ontario Accredited Divorce Mediator (Acc.FM) and a Certified Divorce Financial Analyst (CDFA). He is a specialist in comprehensive divorce mediation services resulting in a separation agreement. You can meet with Ken at any of the 6 DTSW Greater Toronto mediation centres including | Aurora | Barrie | North York | Vaughan | Mississauga | Scarborough