How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask mmdesq Your Own Question
mmdesq, Family Law Attorney
Category: Family Law
Satisfied Customers: 518
Experience:  Attorney with 13 years experience.
Type Your Family Law Question Here...
mmdesq is online now
A new question is answered every 9 seconds

How are you? I was wondering of you could please tell me

Customer Question

Hi how are you? I was wondering of you could please tell me exactly what I need to put into an Asset Pool List for my solicitor as my ex wife is being painful and has everything and wants more.... my solicitor said she can do legal aid to represent me
but legal aid want an asset pool list and I dont knwo what exactly to put into it.. items $$ values???
Submitted: 1 year ago.
Category: Family Law
Expert:  mmdesq replied 1 year ago.

Good Morning,

I will try to best answer your question.

They're looking for assets and valuation of the same to determine equity. For example if you have a home but the home has a mortgage against it you have to deduct the mortgage from the house to determine your equity. Ie the money you would realize when it is sold after paying any debt secured by the asset. Same analogy for a car loan.

I would recommend valuing all of your assets based off of a liquidation analysis. Not what you paid for an item. Not what you hope you can sell it for, but what you can definitely get for it at a garage sale or yard sale. No one knows exactly what an an asset is worth until it is sold so as long as you are on the low end of a respectable range that is where you want to be. Remember the concert is to try to have the approval for the solicitor so the less assets the better and the lower the value the better.

I hope this information is helpful and I wish you the best of luck.

Customer: replied 1 year ago.
Thank you... :)
So do you mean the less asset and the less value the better is that for me?
The facts are:-
The house I bought before we were together and I am the only one on the deeds/ title for the house has been sold... and everything regarding the mortgage rate conveyancing solicitor and real estate have all been paid... my ex has got a hold on the profit funds being held in the conveyancing solicitor trust as she will not sign the relese as she wants the full profit to go to her..
She has EVERYTHING we had in asset cars furniture ect as she is still in the home with it all... we have 3 boys and she has put a dvo on me keeping me from the boys.... everything was fine and when she realised there was no chance of reconciliation between us she put tbe dvo on me and declined pur previous agreement for me to get some of my belongings eg.. work tools as I work in construction ... and stopped me seeing the children.
So I just need to know exactly what to put onto the asset pool and how to write it up to give to legal aid...
The more details and the simplest way even an example of how to write it up is greatly appreciated
Expert:  mmdesq replied 1 year ago.

I would itemize by category. I would only recommend doing large assets worth more than $1,000.. the categories I would use with the real estate, Vehicles, retirement, missing his personal property. Make sure you put down any loans are secured gets typed any food to get pieces of property.