Making lists of information, such as what you earn and what you spend, will help you gather the important documents you will need during your divorce.
As you approach property division, your attorney will need this information, and you will find that becoming organized will help you face this phase of the proceedings with greater confidence.
Begin your lists by describing what you earn, including your base pay, tips, bonuses and commission. Continue with your secondary income, such as dividends, annuities, Social Security, workers’ compensation benefits or rental income.
Your list of expenses will include what you pay for items like groceries, home maintenance, clothing, entertainment, memberships, childcare, pet care, utilities, medical insurance, transportation and charitable contributions.
What you own
The things you own include your financial accounts, investment accounts, your vehicles, your boat, your primary residence, your vacation home and the condo you rent out. A value must accompany everything you and your spouse own together as you prepare for property division. Items you own separately—the vintage Mustang you purchased before your marriage, for example—are items that will likely remain separate.
Debts, loans and taxes
You should provide copies of your state and federal tax returns and your 1099 from last year. If applicable, you will also need to provide Social Security statements and property tax statements. Add to the mix your mortgage documents, credit card and bank statements and any loan documents.
Help is available
The property division phase of your divorce may seem overwhelming. Remember that you can rely on your attorney to help you resolve any sticking points. Making lists, pulling together your documents and becoming better organized will help you face property division with greater confidence.