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Worksheet for Determining Value of Separate Property

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Separate Property is property that you or your spouse owned/ earned before you got married or acquired during marriage through inheritance or by gift from someone else, or property acquired after separation.

 Download Separate Property Worksheet Opens new window

This worksheet will help you determine whether you are eligible to use the Summary Dissolution Procedure. The total fair market value of the Wife's separate property CANNOT be more than $38,000. The total fair market value of the husband's separate property CANNOT be more than $38,000. Do not include the value of your cars in this worksheet.


Section A: Bank accounts, credit union accounts, retirement funds, cash value of insurance policies, etc.

  • Item: List any savings accounts, checking accounts, life insurance policies, pension plans, etc. acquired/earned before marriage and after separation. If you need more room to list all items, you can attach an additional page.
  • Account No: List either the entire or partial account numbers of any items listed.

    NOTE: Once you file your forms, your divorce becomes a public record. This means anyone can view your documents if they go to the court file unit. Protect yourself. Do not list full account numbers, social security numbers, etc. List just enough information so it is clear to you and your spouse what accounts you mean.
     
  • A double line is drawn down the middle of the page.
    • To the right of this double line list the current value of each item.
    • If the item is the wife's separate property write its value under "Wife's Property Fair Market Value."
    • If the item is Husband's separate property write its value under "Husband's Property Fair Market Value."


Section B: Items owned outright

  • Item: List any stocks, bonds, sports gear, furniture, household items, tools, interests in businesses, jewelry, etc. bought before marriage, after separation with income earned after separation, or items received as gifts. If you need more room to list all items, you can attach an additional page.
  • A double line is drawn down the middle of the page.
    • To the right of this double line write the current dollar value of each item.
    • If the item is the wife's separate property write its value under "Wife's Property Fair Market Value."
    • If the item is Husband's separate property write its value under "Husband's Property
      Fair Market Value."


Section C: Items being bought on credit

  • Item: List any stereo equipment, appliances, furniture, etc. that either you or your spouse bought or are in the process of buying on credit. The items listed in Section C must be purchased after your date of separation. If you need more room to list all items, you can attach an additional page.
  • Fair Market Value: Write how much each item would be worth if you sold it today.
  • Minus What's Owed: Write the balance you or your spouse owe(s) on the item.
  • A double line is drawn down the middle of the page.
    • To the right of this double line write the current dollar value of each item. (To get the dollar value, subtract what is owed on the item from the item's current value. That is, the item's current value, minus the balance owed, equals the item's fair market value).
    • If the item is wife's separate property, write its value under "Wife's Property Fair Market Value."
    • If the item is husband's separate property, write its value under "Husband's Property Fair Market Value."

Grand totals for wife's and husband's separate property:

  • Wife's Property Fair Market Value: Add all the numbers listed in this column together and write in the total.
  • Husband's Property Fair Market Value: Add all the numbers listed in this column together and write in the total.  

Once the totals for the wife's and husband's separate property are calculated, you must next determine if you are eligible to get a Summary Dissolution.

  • If your separate property is worth more than $38,000 OR if your spouse's separate property is worth more than $38,000, you are not eligible for Summary Dissolution. You need to get a regular divorce.
  • If you and your spouse do not have separate property worth more than $38,000, you need to complete the Worksheet for Determining Community Obligations/ Division of Obligations. Opens new window

 


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