Reaching agreement on the property pool is essential to move forward with property settlement negotiations.
Your legal professional is using FamilyProperty’s interactive Joint Balance Sheet to streamline this process for your matter. Your legal professional may choose to engage the other party to collaborate on this joint balance sheet, however they control when this occurs.
Why should you use the Joint Balance Sheet?
- You can be involved in the process of identifying your property pool.
- Add and edit items in the Joint Balance Sheet directly.
- View and add your values for items added by the other party.
- Add important details including private notes for your legal professional or public notes that are visible to the other party.
- Model proposals or offers and understand the practical impact. These proposals are completely private and only visible to your legal professional.
To get started on the Joint Balance Sheet, follow these simple instructions:
Step 1 Click on the link contained in the email from your lawyer.
Step 2 Review, add and edit items in the Balance Sheet:
- Your values are listed first. Click on a value to edit it.
- Click Add for new assets, liabilities or super funds that you would like added to the property pool and complete the form.
- Click on the name of an existing item to open the form and review or edit the information.
Step 3 Add more details or a private or public note for an item:
- Within the form, click on ‘Details’ to add more specific information for the item
- Within the form, click on ‘Notes’ where you can add a private note for your legal professional, or add a joint balance sheet note which is visible to the other side if they are invited to collaborate.
Step 4 Model Proposals to see outcomes
- Click ‘Propose something?’ for an item and a box will appear displaying a 50/50 sale or division. To change this, simply click on the box and hold to slide the box left or right
- Repeat this for each item. You can also enter specific proposals within the item form.
- View overall outcomes at the bottom of the balance sheet.
Step 5 You’re all done! All changes auto-save and your lawyer can review it straight away.
Use the Documents button to download a copy to Word. Simply close the window and if you wish to access it again, just use the original link sent from your legal professional.