If you’re contemplating or going through a divorce, having the right documents ready will be crucial. Documentation often plays a big part in deciding how to split assets, determine support, and settle debts. Starting with a clear picture of your finances and legal obligations makes the divorce process smoother and fairer for everyone involved. It also helps your divorce lawyer fight for your rights effectively.
Let’s take a closer look at the types of documents that will save you time, stress, and possibly money in the long run:
Tax returns
The single most important document you will need is your most recent tax return, both federal and state. Depending on the length of the marriage, you may want to have up to 7-years of prior tax returns. If you filed jointly or individually, you can actually obtain copies of returns for up to 7 years directly from the IRS.
Make a copy of the entire tax return and send it to your attorney even before the initial consultation. This will give the attorney a good of idea of the scope of the issues in the case. A good divorce lawyer is skilled at reading simple and complex tax returns and will be able to direct questions about your financial life from reviewing this document.
Financial Documents and Information
Start by collecting all your essential financial documents. These include:
- tax returns,
- recent bank statements,
- pay stubs,
- investment account statements,
- retirement account statements,
- credit card statements.
It’s important to know exactly what you own and what you owe. Start with 3 months of these statements and if more are needed your attorney will ask. These documents help you and your lawyer understand your financial situation clearly and often play a key role in dividing assets and determining support obligations.
Another useful tool to is to obtain a copy of your credit report. This will show you all of the accounts that you have open and any accounts where you are an authorized user.
If you or your spouse own a business, you also want to collect the same information about the business as you would for yourself as an individual. If you have questions, ask your attorney.
Property and Asset Documentation
Documenting what you own will help you and your spouse divide your assets fairly during the divorce. Gathering documents related to your property and assets can take a lot of time and energy. If you don’t do it, your attorney will have to and you will have to pay them to do it.
Real estate deeds are available online through the county clerk’s office in the State of New Jersey and through public records in virtually every other state. If you have had any appraisals for real estate, jewelry or art, make copies of them. If you own vehicles or boats, make a copy of the titles.
Don’t leave the originals with your attorney, just take them copies. It will save time and money. Keep the original records safe and organized, as they prove ownership and value of your property, which is essential in asset division proceedings.
Insurance Policies
Collect documentation for all your insurance policies, including life, health, auto, and homeowners’ insurance. It’s important to know the details of each policy, such as coverage amounts and beneficiaries. Generally, there will be a declaration page that gives all of this information for each policy.
Understanding your insurance situation could also affect how you negotiate your divorce settlement. Remember, that you cannot change any insurances while the divorce is pending. If you learn that your spouse has done this, notify your attorney immediately.
Estate Planning Documents
Find all your estate planning documents, like your will, trust documents, powers of attorney, and healthcare directives. These documents might need updates due to your divorce. For example, you might want to change your beneficiaries. Keeping your estate planning documents current helps you protect your interests and ensure your wishes are clear, especially regarding who can make important legal or medical decisions on your behalf.
Pre-Nuptial Agreements or Other Written Agreements
If you and your spouse executed a prenuptial agreement, you must provide that to your divorce attorney. This document will need to be filed with the court and your attorney will seek to have it enforced or set aside, depending on the facts of your case. This is a critical document that will impact all aspects of the litigation.
If you and your spouse signed any other agreements during the marriage, such as for the purchase of real estate or a loan from your parents, these documents should be provided to your attorney immediately. Depending on the nature of the document, it may be necessary for additional people to be part of the litigation. Your attorney will have many additional questions for you.
Legal Correspondence and Previous Court Documents
Finally, collect any legal letters or documents related to your marriage. This includes any previous court orders or agreements, like those for separation, domestic violence protective orders, or child custody arrangements. Having these documents helps your lawyer understand your legal history. It can also influence how the court views your case and makes decisions about your divorce.
Contact an Attentive Divorce Attorney Now
Ready to take the next step in your divorce process? Baker Legal Group wants to take it with you. Contact us today for an initial consultation. Our team is here to listen to your situation, explain your options clearly, and help you prepare all the documents you need for a smooth divorce proceeding.