BURLINGAME, Calif., Dec. 16, 2021 /PRNewswire/ — SquareFairy has just launched its SplitFairy Online Property Split Calculator that helps intelligently split property and debts in a divorce. It takes into consideration what each person wants and proposes a fair split of the remaining items. The SplitFairy Calculator can save couples thousands of dollars by avoiding the costs involved, like taxes and agent fees, when selling assets to raise cash. Some couples avoid arguing about who gets an item by selling it, and splitting the cash. But this can cost tens of thousands of dollars, as in the case of $50,000 for realtor fees on a median-priced California home. SplitFairy is online, free and can be used by anyone in any state, but is intended for those in community property states.
Nicole Lewis observes, “SplitFairy is a tool that provides a simple and easy way for parties to a dissolution proceeding to divide their assets and debts in a fair and equitable manner.” Ms. Lewis practices Family Law in Northern California.
Mark Streich, one of the company’s founders, noted that the idea for SplitFairy came about when a friend who was undergoing a protracted divorce case asked if his strategic planning software could help recommend the best way to split the several properties the couple owned. “I could see the need to help both couples and attorneys quickly figure out alternative ways of dividing property. It saves time and money, and hopefully reduces the emotional toll of arguing over how to do this. It is unbiased, and strives to increase what each person gets out of an already-difficult situation.”
One real-world example is the recent Sotheby’s auction of Harry and Linda Macklowe’s collection of art, because they could not agree on its value, or division. So in the end, they sold it at auction for over $675 Million, and SplitFairy estimated it would cost them over $200 Million in fees and various capital gains taxes, which the couple could have saved. SplitFairy developed an equal split of the various artworks, using their known values, potentially saving the couple all of these costs.
Both individuals and/or their attorneys can use this free, intelligent software tool to save money, and develop equitable divisions of marital property. SquareFairy also provides California couples a free divorce paper preparation service.
About SquareFairy
SquareFairy Inc. (https://SquareFairy.com), headquartered in Burlingame, California, was founded in 2019 with the mission of helping struggling couples move forward in their lives, whether by helping them find couples therapy, financial help, or providing a path to an amicable divorce. Founders Suraj Vasanth and Mark Streich saw the emotional and financial toll that divorce extracts on friends, and wanted to provide ways for each person in the divorce to be treated fair and square.
SUMMARY:
SquareFairy, the company that provides a free service to prepare divorce papers in California, has released its SplitFairy Property Split Calculator that takes into consideration what each person in the divorce wants, estimated taxes, selling fees, and available refinancing options, to intelligently split marital assets and debts. The SplitFairy Calculator can save couples thousands of dollars by avoiding the costs involved, like taxes and agent fees, when selling items to raise cash.
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SOURCE SquareFairy Inc
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