One of the most important aspects of deciding how to split finances in a divorce is determining the value of marital assets, such as:
Real estate– The marital home is often a couple’s most valuable asset. The house may need to be sold, or one spouse may wish to purchase the other spouse’s marital interest in the house or exchange assets of similar value. It’s important to get an accurate estimate of the value of the house. An appraisal by a real estate professional will give you the best idea of your home’s true value.
Vehicles– To determine the value of any jointly owned vehicles, you can get reliable estimates from resources such as the Kelley Blue Book or evaluations by the National Automobile Dealer Association.
Financial accounts– Be sure to add up the value of any joint or separate financial accounts acquired during the marriage. This includes bank accounts, retirement accounts, and stocks. You’ll need to subtract the value of any shared debts, including credit card debts, mortgages, and loans.
Businesses– If you and your spouse own all or part of a business, you’ll need to determine the value of each spouse’s share of the business. You may need to work with an accountant to get an accurate assessment.