Ultimate List of Financial Documents Needed in Your DivorceOct 30, 2023
One of the hardest parts of divorce is tackling your family's finances. The first place I tell my clients to start is by gathering documents. This task in and of itself can feel overwhelming. How do you even know what documents you need? There are all sorts of financial documents people talk about, but which ones are important for your divorce?
If you are feeling like you do not even know where to begin, read on.
In the Divorce Money Guide, we have a list of nearly 40 financial documents that might be important as you prepare for your divorce. You don't necessarily need or have all of them, but I want you to know about them so that you can at least consider whether they'd play a part in your divorce.
Gathering these documents is not just about completing a process required by the divorce court. It's also about protecting yourself financially. These items can give you important information about your finances as you're negotiating a settlement and planning your financial future.
Here are just a few of the important documents you should think about getting:
- Bank Statements - This is an important starting point. It is vital to understand the money that has been going into and coming out of your bank account. If your name is on an account, you have a right to look at the account and have copies of all statements.
- Retirement plan documents and statements - In most divorces, unless there is a pre- or post-nuptial agreement in place, a starting point for the division of retirement accounts is a 50/50 split. But you might be entitled to even more than half, especially if you took time off work for the benefit of the family or you're unable to work and save for retirement.
- Inventory of bills - Creating a list of all bills is an important area to evaluate how your family is currently spending, what you can anticipate spending in the future, and how to plan. In addition to our documents checklist, the Divorce Money Guide has tools to help you with budgeting strategies to help move your life forward.
- Loan documents - You should get loan document for your home mortgage, auto loan, and other personal loans. Understanding your family's debt is an important step to making decisions about your future and how you will navigate your options.
While this list is a great starting point, there is a reason I have put almost 40 items in our Divorce Money Guide checklist. I wanted this list to be the ultimate, comprehensive list to get you through your divorce.
Without a more complete list, you may not get the best settlement in the divorce. You deserve all of the information to set your future life up. Let me help you make the most of your future today. Join us in the Divorce Money Guide and get this checklist and more to make sure you don't leave money on the table.
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