General Questions about FairSplit Estate, Divorce and Downsizing Division Services

  • Is the service legally binding?

    The service can be used to create a legally binding distribution or division, but is not a legally binding service on its own. One would use the results as part of a broader legal execution of a division according to your specific state laws, provisions of a legal will, and often with the help of a professional. Each party should agree to abide by the results of the process before beginning, otherwise it can’t as effectively serve as the impartial solution needed for a division.

  • Is it possible to create and divide items in an estate using FairSplit without professional help?

    Yes, absolutely. However professionals who deal with estates and divisions as part of their profession will have the experience to make it go more smoothly, and provide personal insight and suggestions beyond those we are able to create in a software solution.

  • Can things other than household items, art, etc. be divided?

    Definitely! Be creative. Anything that can be quantified and needs to be fairly allocated works. For example, “vacation week dates” at a family beach house can be entered as items. Vacation dates and holidays in a divorced family can be listed, etc. If cash, consider putting it into smaller blocks so they could be chosen as opposed to “things”, so for example, $10,000 can be entered in four $2500 blocks.

  • Who Pays for the Division Service?

    Typically the costs are covered from estate funds. If an Executor has chosen FairSplit as an aid to assist their efforts, they would typically be reimbursed. If booked through a service provider, they may separate the fee or have it included in with their overall fees.