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Include the following information in your inventory: A detailed description of each item (include model and serial numbers where appropriate). Date purchased. Original cost. Alterations or repairs done on an item, especially if the alteration or repair made the item appreciate in value.
You list all the assets, and debts (debts should be divided as well) acquired during the marriage. Then you figure out the net value of the asset or debt. Then you start dividing the assets or debts and watch the total at the bottom. One spouse can take 100% of the house, while the 401K is divided 60% / 40%.
The process of valuing these assets often entails figuring out their current market worth, which can be simple like checking an account balance or more difficult like receiving a property valuation. On the other hand, active assets are those whose value may be directly changed by the owner's activities.
List every item of value in your household ? whether it's community property or not. If possible, do this before you move anything. Make sure things you agree should stay together (like a bedroom set) are grouped on your list as one single item. Then, hire an appraiser you both agree on.
An inventory and appraisement is a list of all real and personal property as well as debts and liabilities claimed by each spouse. This list will include separate property, community property, and debts that you and your spouse have.