Glossary of Terms and Roles in FairSplit Asset Divisions

Inventory Property A property is a realty such as a house or condo. Each property contains rooms and assets. Room A room belongs to a property and may contain assets and files, including photos. Asset Assets may (optionally) belong to a property, to a room and to a category. An individual asset may also have […]

Putting Market Values on Assets (not required)

What is MV (Monetary, or Market Value)? The approximate real world value of an item if sold through an estate sale or auction, Craig’s List, yard sale, etc. The division process will result in each party receiving their share of the MV, or paying or receiving offsetting cash to balance differences. This value can be […]

Tips on Photo Upload to Associate with Assets

When taking photos, imagine wearing your “Heir Hat”; photograph items or groups of items, the way you or others would want to Select if it was Your Turn to Choose. Should be clear what is being chosen: In FairSplit, think of 3 main types of photos, and a 4th that can be used: OVERVIEW PHOTOS […]

How do I enter assets for an estate?

See FairSplit video on adding assets. Usually, taking photos room by room and uploading to each room is best. Make the last photo of the room a sheet of notes, that may include rug or TV dimensions, artist name, etc., and it will be easier to segment in your photos to upload later. Create matching […]

This says it is a two year license. Are there charges after two years?

The Administrator will get an email in advance that the inventory may be deleted, or may be continued for a nominal fee. Making new inventories is free. We put two years since most finish the move or estate clearing well before two years, save or print reports that summarize the resulting inventory, etc. We reserve […]