Equalization of Net Family Property at Cohen Highley LLP
Equalization of Net Family Property
Equalization of Net Family Property is the process of calculating and dividing the financial growth that occurred during a marriage. The process involves each spouse calculating the total value of their property, as of the date of marriage and at the time of separation, minus their debts and liabilities. Assets may include investments, business interests, pensions, real estate, cars, etc. The spouse who has the higher net property will pay an equalization payment to the other spouse to ensure a division of the financial growth.
There are exceptions and exclusions to property and debts included in calculating equalization. Please contact a Cohen Highley family lawyer to discuss your unique situation.
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