Divorce Asset Calculator
After almost 18 months of development, we’re very excited to soft launch the all-new Split Easy platform today.
Split Easy (founded by a long-established legal firm in conjunction with a long-established accounting firm) have developed a mathematical algorithm in the form of a divorce asset calculator that considers the Family Law Court criteria and applies that criteria to your unique situation to provide you with an accurate suggestion on what is fair and equitable.
The Family Law Act 1975 sets out the general principles the court considers when deciding financial disputes after the breakdown of a marriage or de facto relationship.
The general principles are the same, regardless of whether the parties were in a marriage or a de facto relationship, and are based on:
- working out what you’ve got and what you owe, that is your assets and debts and what they are worth
- looking at the direct financial contributions by each party to the marriage or de facto relationship such as wage and salary earnings
- looking at indirect financial contributions by each party such as gifts and inheritances from families
- looking at the non-financial contributions to the marriage or de facto relationship such as caring for children and homemaking, and
- future requirements – a court will consider things like age, health, financial resources, care of children and ability to earn.
In the event, you and your partner cannot agree on a split percentage, Split Easy captures and assesses all the above information you have provided to suggest a reasonable split.Get Started With Split Easy
The Split Easy Process
Step 1.) Answer a few quick questions to see if Split Easy is suitable for you
Unfortunately, the Split Easy platform will not cater for couples who are subject to issues surrounding domestic violence orders, potential bankruptcy proceedings or Pre-Nuptial Agreements. Accordingly, a quick initial screening process is necessary.
Step 2.) Enter Personal Information
You will be required to answer basic questions regarding how long you have been together, respective earning capacities, who contributed what when you commenced the relationship, etc. The questions are phrased for easy understanding with pre-populated drop-down list or radio button options for answers.
Step 3.) Enter Assets and Liabilities
You will be prompted to complete details regarding what you own and what you owe.
Step 4.) Enter Child/Children details (If applicable)
If children are involved, you need to enter preferences regarding proposed living arrangements, payment obligations, and the like.
Step 5.) Invite your ex-partner to review and approve (or edit) the information
The opportunity exists for you to invite your ex-partner to review and approve the items you have entered in the previous steps. Split Easy facilitates a negotiation process between you both until you agree on all items.
If you fail to agree on any issues, an online mediation solution is presented (at a small additional cost) to assist you in achieving an amicable result.
Step 6.) Use the Split Easy algorithm to calculate the fair and reasonable % split of assets (if you haven’t previously agreed on yourselves).
Split Easy has harnessed many years of Family Law and Accounting expertise to develop a mathematical algorithm that considers the Family Law Court criteria and applies that criteria to your unique situation to provide you with an accurate suggestion on what is fair and equitable.
Step 7.) Agree on the division of assets to reach the nominated % split (If in fact, you invited the ex-spouse to do so)
The Split Easy platform provides you with the opportunity of dealing (retaining or selling) with every asset and liability on an item by item basis
Step 8.) Receive Consent Orders for lodging with the Family Court
Once an agreement has been reached, you will receive the formal Consent Orders in electronic format for lodging with your local Court. Along with the Consent Orders will be a covering letter with instructions on all additional housekeeping matters required to be attended to, to finalise your separation.Get Started With Split Easy