To use this calculator, input the relevant details about your marriage and financial situation. Select your state of divorce, as laws vary by state. Enter the number of years you were married, and indicate if the divorce is contested. Provide the annual gross income for both spouses, as well as any home equity, marital debts, and retirement accounts. The calculator will estimate the division of assets and potential alimony.
The calculator uses the following formulas to estimate the property settlement:
Net Marital Estate: Total Assets - Total Debts
Estimated Alimony: Income Difference × Alimony Factor × (Years Married / 10)
Spouse Share: Net Marital Estate × (Spouse Income / Total Income)
Consider a couple in California married for 12 years, with incomes of $90,000 and $45,000. They have $150,000 in home equity, $35,000 in debts, and $120,000 in retirement accounts. The calculator estimates the net marital estate and divides it based on income proportions, also estimating alimony if applicable.
Remember that this calculator provides estimates based on typical state laws and financial principles. Actual settlements may vary based on specific legal advice and negotiations. Always consult with a legal professional for personalized guidance.