Calculate the payment one partner owes the other

We're married. Do we have to divide our property and debts if we separate or divorce?
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Calculate the payment one partner owes the other

You use the value of each partner's assets and debts to figure out how to share the value of your property and debts after you separate or divorce.

The money one married partner pays the other partner when they separate is called an equalization payment.

Many couples agree on how to divide things in their house that are jointly owned without including them in the equalization calculation. For example, you could make a list of things and take turns picking what you want to take with you. This may include things like couches, lamps, and televisions.

You can talk to a lawyer who can help you figure out how to divide your property and debts.

If you can't afford to hire a lawyer for your whole case, some lawyers provide "unbundled services" or "limited scope retainer" services. This means you pay them to help you with part of your case.

If you can't afford to hire a lawyer at all, you may be able to find legal help in other places.

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Reviewed: July 15, 2019

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