When separating, one of the most important steps is deciding how to divide your property and debts. To do this fairly, most lawyers use a Property Schedule, sometimes called a Scott Schedule, which lists out everything each person owns and owes.
This is found on the left navigation panel under The Parenting Time Planner.
Divii includes a built-in property schedule tool that helps you organize your finances clearly and calculates equalization payments automatically, so you can focus on reaching a fair agreement.
What is a Property Schedule (Scott Schedule)?
A property schedule is a detailed list of all family property: all assets (home, bank accounts, vehicles, pensions, etc.); all liabilities (mortgages, loans, credit cards, etc.); and who owns each item.
Then it subtracts any exclusions, assigns which party will retain what property, and automatically calculates the equalization payment. It gives a clear picture of your combined net worth and helps determine how to fairly divide property under the law.
How the Property Schedule works in Divii
The Builder will guide you through adding all the details of your assets and debts and tends to be the easiest way to add many items. You can add individual property directly in the Property Schedule by using the ➕ button beside each asset category.
Be sure to include all items. Divii will prompt you to specify
A description of assets and debts existing at the end of the relationship.
Ownership (joint, yours, or your spouse’s)
Value at the end of the relationship. Under the Family Law Act, we use the value as of the date of the Agreement unless otherwise agreed. This allows you to capture and share increases and decreases of value of each of your various assets
Excluded property, if applicable (e.g. value of assets as of the date of the inheritance).
Once everything is entered and reviewed:
Divii will automatically calculate the Equalization Payment based on the chosen distribution. You can make edits to the details or chosen distribution using the 🖊️ button on each line so that you can look at different scenarios.
You can negotiate adjustments to the numbers by agreement. The platform updates the equalization amount in real-time. Finally, you can print a final Property Schedule and include it in your agreement.
Why use the Property Schedule?
Using a Property Schedule keeps everything organized and transparent. It does the math for you and minimizes errors while helping you reach a fair agreement faster. Once completed, it's also ready for review by lawyers or mediators and fully aligned with local legal standards.
For more information on dividing property, visit the Property Division Overview.