Divorce Financial Calculator
Estimate asset division, spousal support, child support, and the overall financial impact of divorce.
Marriage & Income
Assets & Home
Net Marital Estate
$495,000
50/50 Community Property Split
Spouse 1
$247,500
Spouse 2
$247,500
Home Equity Options ($170,000)
Sell the Home
Cleanest split. Both walk away with cash. Subtract ~8-10% for selling costs.
Spouse 1 Keeps (Buys Out)
Spouse 1 must refinance mortgage solo and pay spouse 2's equity share.
Spouse 2 Keeps (Buys Out)
Spouse 2 must refinance mortgage solo and pay spouse 1's equity share.
Estimated Alimony
$1,000/mo
Spouse 1 pays · 4 years
Estimated Child Support
$1,979/mo
2 child(ren) · 50% / 50% custody
Retirement Accounts to Divide
$225,000
A Qualified Domestic Relations Order (QDRO) will be needed.
Monthly Budget Impact
Estimated Legal Costs
| Method | Cost | Timeline |
|---|---|---|
| Mediation | $5,000 — $15,000 | 2–4 months |
| Collaborative Divorce | $15,000 — $35,000 | 3–6 months |
| Contested (Litigation) | $30,000 — $100,000+ | 6–18 months |
| DIY/Online | $500 — $3,000 | 1–3 months |
Financial Checklist
- ☐Open individual bank accounts and credit cards
- ☐Gather 3 years of tax returns, pay stubs, and financial statements
- ☐Get appraisals for home, business, and valuable assets
- ☐List all debts with account numbers and balances
- ☐Change beneficiaries on life insurance, 401(k), and IRAs
- ☐Update your will and estate plan
- ☐Create a post-divorce budget
- ☐Check credit reports for both spouses
- ☐Close or freeze joint credit accounts
- ☐Document all marital and separate property
- ☐Obtain a QDRO for retirement account division
- ☐Decide home disposition: sell, buyout, or defer sale
- ☐Draft parenting plan with custody schedule
Tips
- Mediation costs a fraction of litigation and often produces better outcomes for both parties.
- Retirement division requires a QDRO — get it right to avoid tax penalties.
- Filing status changes the year of divorce — you may file as single or head of household.
- 10+ year marriage: the lower-earning spouse may qualify for Social Security benefits based on the ex's record.
This is an educational estimate, not legal advice. Consult a family law attorney for your specific situation.
How Assets Are Divided in Divorce
The method depends on your state. Nine community property states (AZ, CA, ID, LA, NV, NM, TX, WA, WI) generally split marital assets 50/50. The other 41 states use equitable distribution, where a judge divides assets "fairly" — not necessarily equally — based on factors like income, marriage length, contributions, and future earning capacity.
Average Cost of Divorce (2026)
| Method | Average Cost | Timeline | Best For |
|---|---|---|---|
| DIY/Online Filing | $500–$3,000 | 1–3 months | Uncontested, no children, simple assets |
| Mediation | $5,000–$15,000 | 2–4 months | Cooperative couples with moderate assets |
| Collaborative Divorce | $15,000–$35,000 | 3–6 months | Complex assets, desire to avoid court |
| Contested Litigation | $30,000–$100,000+ | 6–18 months | High conflict, custody disputes, hidden assets |
Key Financial Decisions in Divorce
| Decision | Key Consideration |
|---|---|
| The Family Home | Selling provides a clean split; keeping requires refinancing and equity buyout |
| Retirement Accounts | 401(k)/pension requires a QDRO; IRAs can be transferred via transfer incident to divorce |
| Tax Filing Status | Changes the year of divorce; may qualify for Head of Household if you have custody |
| Health Insurance | COBRA coverage for 36 months; ACA marketplace as alternative |
| Social Security | 10+ year marriage: entitled to spousal benefits based on ex's record |
Frequently Asked Questions
How is alimony determined?
Factors include income disparity, marriage length, each spouse's earning capacity, age, health, and standard of living during the marriage. Some states have formulas (e.g., California: 40% of the higher earner's income minus 50% of the lower earner's). Since 2019, alimony is no longer tax-deductible for the payer or taxable for the recipient.
What happens to debt in a divorce?
Marital debt (incurred during the marriage) is divided similar to assets. In community property states, it's split 50/50. In equitable distribution states, the court assigns it based on who incurred it and who can pay. Creditors aren't bound by divorce agreements — if both names are on a debt, both remain liable.
See also: Alimony Calculator and Budget Planner.