We’re married. How do we divide our property and debts if we separate or divorce?
3. Calculate each partner’s net family property
Use the information in your to calculate your (NFP). NFP tells you how much money you are worth at the end of your relationship after taking into account what you brought into the marriage.
To calculate your NFP, you first add together all and subtract all that you had at the end of your relationship or your separation. This is usually on the day you and your partner separated. Then you also subtract all assets less all debts you had on the day you .
Remember that some assets or debts are treated differently in this calculation. For example, some gifts and inheritances are not included.
There are instructions on the Form 13.1: Financial Statement (Property and Support Claims) that tell you what items to add and subtract.
Your partner calculates their NFP the same way.
Example calculation of NFP for each partner
|Married partner A|
|Now (Separation Date) = assets – debts||$100,000|
|Then (Marriage Date) = assets – debts||$20,000|
|Now – Then||$80,000|
|NFP for Married partner A is $80,000|
|Married partner B|
|Now (Separation Date) = assets – debts||$55,000|
|Then (Marriage Date) = assets – debts||$25,000|
|Now – Then||$30,000|
|NFP for Married partner B is $30,000|
If your NFP calculation is a negative amount, your NFP is considered to be zero.