Divorce Settlement Calculator

Divorce Settlement Estimator

Use this calculator to get an estimated breakdown of marital assets, debts, and potential spousal support. Please remember this is an estimation tool and not legal advice. Divorce laws vary significantly by jurisdiction, and many factors not included here can influence a final settlement.

Marital Assets

Marital Debts

Income & Marriage Duration (for Spousal Support Estimate)

function calculateSettlement() { // Helper function to get numeric value from input, defaulting to 0 if invalid function getNumericValue(id) { var value = parseFloat(document.getElementById(id).value); return isNaN(value) ? 0 : value; } // Marital Assets var homeValue = getNumericValue("homeValue"); var otherRealEstateValue = getNumericValue("otherRealEstateValue"); var bankAccounts = getNumericValue("bankAccounts"); var investments = getNumericValue("investments"); var retirementSpouse1 = getNumericValue("retirementSpouse1"); var retirementSpouse2 = getNumericValue("retirementSpouse2"); var vehicleValueSpouse1 = getNumericValue("vehicleValueSpouse1"); var vehicleValueSpouse2 = getNumericValue("vehicleValueSpouse2"); var otherAssets = getNumericValue("otherAssets"); // Marital Debts var mortgageBalance = getNumericValue("mortgageBalance"); var otherRealEstateDebt = getNumericValue("otherRealEstateDebt"); var vehicleLoanSpouse1 = getNumericValue("vehicleLoanSpouse1"); var vehicleLoanSpouse2 = getNumericValue("vehicleLoanSpouse2"); var creditCardDebt = getNumericValue("creditCardDebt"); var otherDebts = getNumericValue("otherDebts"); // Income & Marriage Duration var incomeSpouse1 = getNumericValue("incomeSpouse1"); var incomeSpouse2 = getNumericValue("incomeSpouse2"); var marriageDuration = getNumericValue("marriageDuration"); // — Calculations — // 1. Total Marital Assets var totalAssets = homeValue + otherRealEstateValue + bankAccounts + investments + retirementSpouse1 + retirementSpouse2 + vehicleValueSpouse1 + vehicleValueSpouse2 + otherAssets; // 2. Total Marital Debts var totalDebts = mortgageBalance + otherRealEstateDebt + vehicleLoanSpouse1 + vehicleLoanSpouse2 + creditCardDebt + otherDebts; // 3. Net Marital Estate var netMaritalEstate = totalAssets – totalDebts; // 4. Target Share Per Spouse (assuming 50/50 distribution for estimation) var sharePerSpouse = netMaritalEstate / 2; // 5. Estimated Monthly Spousal Support (Alimony) // This is a highly simplified and illustrative formula, not based on any specific state law. // It uses a percentage of the annual income difference, divided by 12 for a monthly estimate. var higherIncome = Math.max(incomeSpouse1, incomeSpouse2); var lowerIncome = Math.min(incomeSpouse1, incomeSpouse2); var incomeDifference = higherIncome – lowerIncome; var estimatedMonthlySpousalSupport = 0; if (incomeDifference > 0 && marriageDuration > 0) { // Illustrative formula: 30% of the annual income difference, divided by 12 for monthly. // This is a common starting point in some simplified models, but highly variable in practice. estimatedMonthlySpousalSupport = (incomeDifference * 0.30) / 12; } // — Display Results — document.getElementById("totalAssetsResult").innerHTML = "$" + totalAssets.toFixed(2); document.getElementById("totalDebtsResult").innerHTML = "$" + totalDebts.toFixed(2); document.getElementById("netEstateResult").innerHTML = "$" + netMaritalEstate.toFixed(2); document.getElementById("sharePerSpouseResult").innerHTML = "$" + sharePerSpouse.toFixed(2); document.getElementById("spousalSupportResult").innerHTML = "$" + estimatedMonthlySpousalSupport.toFixed(2); } .divorce-settlement-calculator { font-family: Arial, sans-serif; max-width: 800px; margin: 20px auto; padding: 20px; border: 1px solid #ccc; border-radius: 8px; background-color: #f9f9f9; } .divorce-settlement-calculator h2, .divorce-settlement-calculator h3 { color: #333; text-align: center; margin-bottom: 15px; } .divorce-settlement-calculator p { margin-bottom: 10px; line-height: 1.6; } .calculator-section { background-color: #fff; border: 1px solid #eee; border-radius: 5px; padding: 15px; margin-bottom: 20px; } .calculator-section label { display: inline-block; width: 200px; margin-bottom: 8px; font-weight: bold; } .calculator-section input[type="number"] { width: calc(100% – 210px); padding: 8px; margin-bottom: 8px; border: 1px solid #ddd; border-radius: 4px; box-sizing: border-box; } .calculator-section input[type="number"]:focus { border-color: #007bff; outline: none; } .divorce-settlement-calculator button { display: block; width: 100%; padding: 12px 20px; background-color: #007bff; color: white; border: none; border-radius: 5px; font-size: 18px; cursor: pointer; margin-top: 20px; margin-bottom: 20px; } .divorce-settlement-calculator button:hover { background-color: #0056b3; } .calculator-result { background-color: #e9f7ef; border: 1px solid #d4edda; border-radius: 5px; padding: 15px; margin-top: 20px; } .calculator-result h3 { color: #28a745; text-align: center; margin-bottom: 15px; } .calculator-result p { font-size: 1.1em; margin-bottom: 8px; } .calculator-result strong { color: #333; } .calculator-result small { font-size: 0.8em; color: #666; }

Understanding Divorce Settlements: A Comprehensive Guide

Divorce can be one of life's most challenging experiences, and navigating the financial complexities of a settlement can add significant stress. A divorce settlement is a legally binding agreement that outlines how a couple's assets, debts, and responsibilities will be divided after their marriage ends. While every divorce is unique, understanding the key components can help you prepare for the process.

Key Components of a Divorce Settlement

Divorce settlements typically address several critical areas:

1. Division of Marital Assets and Debts: This is often the most significant financial aspect. Marital assets include anything acquired during the marriage, such as real estate (the marital home, investment properties), bank accounts, investment portfolios, retirement accounts (401ks, IRAs, pensions), vehicles, and valuable personal property. Marital debts include mortgages, car loans, credit card debt, and other joint liabilities incurred during the marriage. States generally follow one of two principles:
   • Community Property: In states like California, Texas, and Washington, marital assets and debts are typically divided equally (50/50).
   • Equitable Distribution: Most other states follow this principle, meaning assets and debts are divided fairly, but not necessarily equally. Factors like each spouse's financial contributions, earning capacity, health, and the length of the marriage can influence the distribution.
2. Spousal Support (Alimony): Also known as alimony or maintenance, spousal support is financial assistance paid by one spouse to the other after a divorce. Its purpose is to help the lower-earning spouse maintain a similar standard of living to what they enjoyed during the marriage, especially if they sacrificed career opportunities for the family. Factors influencing spousal support include:
   • Length of the marriage
   • Each spouse's income and earning capacity
   • Age and health of each spouse
   • Standard of living during the marriage
   • Contributions of each spouse to the marriage (e.g., homemaking, child-rearing)

   The duration and amount of spousal support vary widely by state and individual circumstances. It can be temporary (rehabilitative) or, in longer marriages, permanent.

3. Child Custody and Support: If the couple has minor children, the settlement will include a parenting plan outlining physical and legal custody arrangements. Child support is financial payments made by one parent to the other to cover the costs of raising the children. Child support calculations are typically based on state-specific guidelines, which consider parental incomes, the number of children, and the amount of time each parent spends with the children.
4. Other Considerations:
   • Tax Implications: The division of assets and spousal support can have significant tax consequences.
   • Health Insurance: Arrangements for health insurance coverage post-divorce.
   • Life Insurance: Often required to secure spousal or child support obligations.
   • Attorney Fees: Who will pay for legal costs.

How Our Divorce Settlement Estimator Works

Our calculator provides a simplified estimation based on common financial factors. Here's what it considers:

• Marital Assets: You input the current market value of your marital home, other real estate, bank accounts, investment portfolios, retirement accounts for both spouses, vehicles, and any other significant marital assets.
• Marital Debts: You input outstanding balances for mortgages, other real estate debts, vehicle loans, credit card debt, and other joint liabilities.
• Net Marital Estate: The calculator sums your total assets and subtracts your total debts to determine the net value of your marital estate.
• Target Share Per Spouse: For simplicity, our calculator assumes an equitable (often 50/50) distribution of the net marital estate. In reality, this can vary based on state laws and specific circumstances.
• Estimated Monthly Spousal Support: This estimate is based on the annual income difference between spouses and the duration of the marriage. It uses a generalized formula and is NOT based on specific state guidelines. Actual spousal support awards are highly discretionary and depend on many factors not included in this simple calculation.

Important Disclaimer

This Divorce Settlement Estimator is designed for informational purposes only and should not be considered legal or financial advice. Divorce laws are complex and vary significantly by state and jurisdiction. The actual outcome of a divorce settlement depends on numerous factors, including specific state statutes, judicial discretion, negotiation between parties, and the unique circumstances of your case. Factors such as prenuptial agreements, fault grounds, specific asset valuations (e.g., businesses), and tax implications are not accounted for in this simplified tool.

Always consult with a qualified divorce attorney and a financial advisor to discuss your specific situation and obtain accurate legal and financial guidance tailored to your needs.