Documents That You Need Before Filing For Divorce
Preparing your divorce documents is crucial, and it’s also a process that a lot of people overlook. They find it to be very simplistic at first. But the truth is that it could become very challenging if you don’t grab all the necessary documents. Hence the reason why you want to know exactly what documents are necessary before you file for a divorce. Here’s what you need to know.
Personal and marital documents
Even before we delve into financial stuff, it makes sense to gather marital and personal records. That means you should have the marriage certificate, prenuptial or post-nuptial agreements, birth certificates for kids, social security numbers for everyone, passports and ID documents, as well as any prior legal agreements related to property, support or custody.
Income documentation
During the divorce proceedings, financials will always come up. And that’s the thing, you always want to document all of your income with pay stubs, W-2 forms, tax returns, documentation of overtime pay, commissions, bonuses and so on. You can also share business income records or self-employment records where applicable, same with the documentation for any other income sources. In general, the more documentation you have, the better. It’s important, even for things like investment income, royalties or rental income.
Bank and financial account statements
You have to understand that the attorneys and courts need to have a clear picture when it comes to all the financial accounts. That’s why you want to share certificates of deposit, checking and savings account statements, statements for any joint accounts and so on. It’s imperative to have such documentation, so try to keep that in mind where possible.
Investment and retirement account records
These are major marital assets, so it’s imperative to have these divided correctly. That means you have to ensure they are shared adequately in court. But what documents should be added here? Those will include 401(K) and other employer-sponsored statements, IRA account statements, pension plan documents, stock options, HAS statements, brokerage account statements and so on.
Real estate and property documents
In case you own real estate, then you have to share documents related to it. You will need deeds for the properties owned, mortgage statement/loan documents, property tax documents, home appraisal documents, documentation of home improvements, records for the additional real estate and so on.
Debt and liability records
Marital debt will be shared between the former spouses, just like the assets. That’s why you need to have a very clear picture of the overall debt and liability. It’s important to work closely with the best lawyers at Coover Law Firm, LLC, as they will be able to offer valuable assistance and help during this process.
Business ownership documents can also be something to keep in mind here. Of course, this is only valid if either you or your spouse own a business. In that case, you have to prepare stuff like the tax returns, profit and loss statements, business bank account statements, partnership or shareholder agreements, business valuation reports, documentation of business debt and liabilities, etc.
Insurance documents
As a part of the divorce process, insurance policies need to be updated and reviewed. That includes the health insurance, life insurance, homeowner or renter’s insurance, auto insurance, disability insurance and so on. In general, these will be changed quite a bit, and it’s extremely important to consider all the pros and cons here.
Estate planning documents are also a part of this as well. Sometimes, these have to be reviewed and updated, once the divorce is finalized. Having copies available during the divorce trial might be a good idea. So it makes sense to prepare your will, trusts, powers of attorney, healthcare directives or any living wills as well, just to be on the safe side.
Tips to consider
- It’s always a very good idea to prepare documents early on. If you do that, the disclosure process will be much smoother and without a lot of events, too.
- Make copies of everything that you can. Having digital copies in particular is a great idea, because it will streamline things and bring you a better overall experience.
- Using a dedicated folder or a cloud storage system to store stuff is handy, and it will surely bring a better overall result.
- Note any missing documents early on. That way, you can find them, and it will streamline your overall process.
- Also, don’t rely solely on your spouse’s records. Even if you have joint accounts, it still makes sense to gather your own copies of those statements.
Conclusion
It always helps to know what documents you need to prepare before you file for divorce. And as you can see, having your own copies is always recommended, even if you have joint accounts. Being prepared is crucial, as it will give you a peace of mind, plus you can avoid a variety of potential issues.
