nickMMM

Didn't even think of that. Thank you! I'll get that fixed

Yep it calculates alimony payments (called spousal maintenance in NY). It's based on income, length of relationship etc. In NY, you can actually negotiate out of alimony (eg trade it for some more assets).

completely agree!

thank you - appreciated it :)

Divorce does force people to make tough choices. Both people are entitled to a share of the assets they jointly accumulated over time, separate their finances and make a fresh start independently. Keeping or selling the house (the biggest asset) is a hard decision. Selling often means disrupting the lives of the children etc. If property has negative equity, then it becomes even more challenging. In NY, couples can enter into an agreement where they keep joint ownership of the house for a while (eg until the kids grow up). This can only work if they’re amicable. Lots of people don’t want to continue holding a joint mortgage with their ex-partner, so it’s often a decision between sell the house or one person taking over the mortgage.

thank you for the support

thank you - I hope so too. When people are separating and fighting over kids, that can get intense too. This tragic story has stuck me for a long timehttps://nypost.com/2021/11/26/texas-man-shoots-partners-ex-a.... If people understand their rights better, they can avoid taking things into their own hands.

We want to target people who are amicable (to start with). Definitely not anyone who is contentious. Hoping to expand to contentious divorces in the future of course (and help people actually negotiate without a lawyer). I would love the system to give prompts to people on whether they're asking for too much or if they're in the ballpark.

If you're amicable, there is still a lot of benefit in checking whether what you've agreed to divide with your spouse is fair from a legal perspective. You could be giving too much away. Eg. If you had a retirement/pension fund before the marriage, do you want to split that equally down the middle - no. You'll be entitled to keep a bigger slice of that (but you may have to give some away of course). Same with any other assets you had before the marriage, or inheritance you received during the marriage, or if you’ve used pre-marital funds to buy assets during the marriage. All these things could move it away from a 50/50 split.

Monetising will be the next step. We just want to figure out if this is useful for people first.

We have a few ideas, eg once Resolvy gives you the information (or prepares the divorce documents) we can advertise attorneys who can check everything for you to make sure it’s correct. We'll try keep it a free service for as long as we can (and figure out revenue models from businesses)

Thank you for that spot! :)

I have not personally (still happily) married. My cofounder went through a divorce. He is a divorce lawyer (and his wife at the time a lawyer too). They divided everything smoothly - sounded like it was quite clinical and unemotional from what he told me.

Say if you brought assets into the relationship, a house, retirement fund fund, an inheritance. I’m sure you don’t want your ex-partner to get half of that. You’re entitled to keep a larger portion of it (as you get a credit for it). So our app helps people understand that better.

Some people who split everything equally may be giving more away than they should.

This is our version one. I have no idea how it will evolve.

But yes, if you want it done quickly - a lawyer is better at this stage.

May I ask if you went through a divorce?

We just launched Resolvy. It helps anyone going through a divorce understand what portion of the assets they can keep, and what portion is to be divided with their spouse. Deals with child support and alimony too. Currently only works in New York. Free to use. Can save Anyone going through a divorce in New York on legal fees.