One of the most important steps you can take before filing for divorce is gathering the financial and personal information you will need throughout the process. Being prepared from the start can save time, reduce stress, and help your attorney represent you more effectively.
Financial Records
Income Documentation
Collect recent pay stubs, W-2 forms, and tax returns for the past three to five years. If your spouse is self-employed, gather any business tax returns and profit-and-loss statements you can access.
Bank Accounts
Document all checking accounts, savings accounts, and money market accounts. Note the current balances and recent transaction history. If possible, obtain statements going back at least twelve months.
Retirement Accounts
Gather the most recent statements for all retirement accounts including 401(k) plans, IRAs, pensions, and any other retirement benefits.
Debts and Liabilities
Make a list of all debts including mortgages, car loans, credit cards, student loans, and any other obligations. Note whose name each debt is in and the current balance.
Property and Assets
Real Estate
Collect deeds, mortgage statements, property tax records, and any recent appraisals for all real property owned by either spouse.
Vehicles
Document all vehicles including make, model, year, mileage, and any outstanding loan balances.
Other Assets
Do not overlook items like life insurance policies, brokerage accounts, valuable personal property, and any business interests.
Personal Documents
Keep copies of important personal documents such as birth certificates, Social Security cards, passports, and health insurance information for yourself and your children.
Why This Matters
Having this information organized and accessible from the beginning of your case puts you in a much stronger position. It allows your attorney to provide accurate advice and helps ensure that all marital assets and debts are accounted for during the equitable division process.