Marital Balance Sheet Template

The balance sheet is a very important financial statement that summarizes a companys assets what it owns and liabilities what it owesa balance sheet is used to gain insight into the financial strength of a company.

Marital balance sheet template. The format itself is simple. Whether you are going through a contested divorce or a dissolution no fault divorce in every case the balance sheet is what the judge uses to determine an equitable division of assets and liabilitieswhat you get and what your spouse gets. This article contains a sample monthly finance spreadsheet that can be used in a divorce. You can also see how the company resources are distributed and compare the information with similar companies.

The basic equation of a balance sheet is assets liabilities equity. The goal here is a 5050 split between each spouse. In other words the equity or net worth of the divorcing couple is everything they own less their debts. Remember that it is the duty of the court to divide the community estate equally this division means an equal division in dollars not that you divide the family residence with a chain saw.

Download a balance sheet template to help budget an individual personal or company profit and non profit to calculate the income and expenses for a given time perioda simple calculation is the person or company equity plus assets current assets fixed long term assets and any other assets minus expenses current liabilities and long term liabilities to get the final balance. If you are going through a divorce your attorney will request a list of all the marital assets and liabilities. The balance sheet focuses on valuing distributing and dividing all marital assets and liabilities. Then you figure out the net value of the asset or debt.

We use a spreadsheet similar to this in our oklahoma divorce practice. To help with this task we created a marital balance sheet. Marital balance sheets can range from being exquisitely simple to exceedingly complex. This is a web based marital balance sheet that allows you to explore property division for your divorce.

You list all the assets and debts debts should be divided as well acquired during the marriage. A balance sheet is a document that summarizes the assets and liabilities of the divorcing couple and their marital estate. Use the following checklist to ensure you are prepared with all the necessary information when it is time to negotiate a divorce settlement agreement. Then you start dividing the assets or debts and watch the total at the bottom.

This is a automated balance sheet for analyzing property division in oklahoma divorce cases.