Divorce
Article by Divorce Ammo
Make Copies of Everything – You need to make copies of all financial documents before the divorce begins. It is much more difficult and costly to obtain these documents through discovery procedures at a later date. Here is a list of the documents you will need:
a) Tax returns for the last three to five years
b) Bank statements – online statement s will do as well
c) Check registers
d) Investment statements
e) Retirement account statements
f) Employee benefits handbooks
g) Life insurance policies
h) Mortgage documents
i) Credit card statements
j) Wills
k) Social Security statements
l) Automobile titles
m) If your spouse is self-employed, it is important to gather as much information as possible about the finances of the business.
n) Financial data stored on your home computer
Research and Interview Family Law Attorneys – Interview family law attorneys and retain the one that best fits your needs and goals.
Inventory All Family Assets – I strongly suggest taking a video camera and making a video inventory of all assets. This not only documents each item, but it also is a visual archive of the current condition of all items. This can also be used when assessing the value of all items. At the very least, make an exhausted written inventory. Do this before you leave the house. Once you leave the home, you will need to spend money to obtain the court’s permission to re-enter and your spouse can remove or hide items easily.
Know your Household Budget – Document the monthly spend for utilities, food, entertainment, etc. Go through check registers, utility bills, etc. This can help when setting alimony and temporary support orders.
Know What Your Spouse Makes – Understand exactly what your spouse earns. Also identify any earning potential (upcoming promotion, graduating school or higher education, bonuses, etc. If your spouse has a business partner, you may be able to learn how the partners are paid during a casual conversation with the partner. If your spouse is self-employed or gets paid in cash, keep track of the money flowing in for several months.
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