Property and Debt Division Cheat Sheet

When and Why

When: When you and your spouse are ready to dive into the ‘nitty-gritty’ and divide your assets and debts. You can use this spreadsheet for everything from weighing your options, negotiating with your spouse (and/or his or her lawyer), to attaching it to your final agreement.

Why: You can’t split every asset or debt (nor would you want to) equally. This spreadsheet allows you to enter in all of your property and/or debt (separate and joint!) and assign it to the spouse who wants it. Once you’ve accounted for everything you both own, you will know who is receiving more $$ and then determine if either party owes the other a sum to equalize the division.

How to Use this Template:


CP = Community Property. All property and debt acquired during marriage and before separation is usually community property unless it was acquired by one spouse through gift or inheritance.

SP = All property and debt acquired before marriage and/or after separation AND all property acquired during the marriage by gift or inheritance.

H = Husband*

W = Wife*

Column A – Numbered for your convenience. Nothing to do here.

Column B – Enter in the Description of the asset, debt or reimbursement

Column C – Enter in the value of a CP (joint) asset or debt. If it’s a negative number, indicate with a “-“ sign. If one party is owed a reimbursement on a CP asset (e.g. made the down payment with SP funds), enter it in Column C with a “-“ sign. If the asset or debt is the SP of one spouse, do not enter it here.

Column D – If an asset or debt is Husband’s SP, enter it here.

Column E – If an asset or debt is Wife’s, enter it here.

Column F – If Husband will receive this CP asset or debt, enter it here. If it is a negative value (e.g. mortgage balance), indicate with a “-“ sign.

Column G – If an asset or debt is Husband’s SP (per Column D), enter it here.

Column H – If Wife will receive this CP asset or debt, enter it here. If it is a negative value (e.g., mortgage balance), indicate with a “-“ sign.

Column I – If an asset or debt is Wife’s SP (per Column E), enter it here.

Column J – This is a notes section. You can enter into it anything you want that is helpful (e.g., how you arrived at a particular value, the source of a SP asset).

At the bottom of the spreadsheet, you’ll learn the total value of all CP (assets and debts) and then the amount necessary to ‘equalize’ you or your spouse.

*You can switch Husband to Wife or Wife to Husband (if you prefer).

Click HERE to Download Spreadsheet


Many people choose to leave retirement accounts out of this template. It’s difficult to determine the CP value of a retirement account if there were contributions made before marriage or after separation. You may ask an actuary to value the CP interest or you and your spouse may come to an approximate value that’s agreeable. Another option is to divide and equalize the retirement accounts separately. In that case you would use a separate order called a Qualified Domestic Relations Order (QDRO) and your financial institution(s) will do the math for you. If it is done correctly, there will be no tax consequences to either of you!

The Hello Divorce team is standing by to help you.

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