Collecting your financial information before meeting with your lawyer and/or financial advisor will save both time and money during the divorce process. Here’s a list of the documents you’ll need.

Your divorce lawyer and your financial professional will need information about your financial situation in order to assess your case. Collect the following documents before meeting with your lawyer and/or financial advisor to help save both time and money during the divorce process:

  • Copies of separate and joint tax returns for the most current tax year and the three previous years. This includes personal tax returns, partnership/corporate tax returns, and any amended tax returns
  • Partnership/Corporate Financial Statements for both spouses
  • Year-to-date pay stubs showing income and deductions for both spouses
  • Bank statements and cancelled checks for all individual, joint, business, partnership, and corporate accounts for previous three years
  • Children’s bank, savings, insurance and investment account statements for last three years
  • Investment statements covering stocks, mutual funds, etc.
  • Monthly expenses (use the “Expense Worksheet” to help you with this)
  • Life insurance, disability insurance, and critical insurance policies – most current statement for both spouses
  • Information about all retirement plans and accounts, including IRAs, 410(k)
  • Information about all Pension Plans, including a summary plan description, benefits booklet (from employer), most recent statements (from the last three years) or an actuarial statement (if available), benefits estimate.
  • Stock options (if any)
  • Listing of all separate, joint, and business non-investment assets (see “List your Assets” for more information)
  • Dividend statements, corporate financial statements, rental income statements and government payment notices
  • Information about the primary residence and other real estate (vacation homes, investment properties, etc.), including:
    • Current appraisal
    • Date of purchase and purchase price
    • Original and current mortgage amounts
    • Property tax and utility statements
  • Information regarding all outstanding loans (either bank or private) and debts, including rate, term, monthly payment, and pre-payment penalties (see “List Your Debts (Liabilities)” for more information).

For more information about divorce finances, including tax returns and retirement plans, please go to www.divorcemag.com/financial-issues.