When the decision to divorce has been made, divorcing spouses should be familiar with how to prepare for the divorce process. This includes knowing which documents they should pull together in preparation for the divorce process.
Documents to gather in preparation for divorce
There are several different types of documents to gather prior to divorce including:
- Income documents: Spouses should gather all income-related documents including the pay stubs for the spouses, tax returns and business expenses if one of the spouses has a business and other relevant financial documents.
- Real estate documents: Spouses should gather mortgage documents, documents that describe real estate owned by the company, tax assessor documents and documents related to refinancing any real estate.
- Joint account documents: Spouses should gather bank statements, statements related to investment accounts or savings accounts or other documents related to joint accounts.
- Life insurance documents: Spouses should gather statements related to life insurance policies for either spouses or others in the family.
- Marital debt documents: Spouses should prepare a list of itemized debts including credit cards, outstanding bills, medical bills and any other loans or debts in the names of either spouse.
- Pension documents: Spouses should gather pension fund statements, 401(k) statements, IRA account statements, mutual fund statements and any other retirement account information.
- Auto documents: Spouses should prepare title and registration documents and any documents related to outstanding loans or debts on any vehicles the couple owns.
Divorce can be a challenging and complex process for divorcing couples to work through.
The family law process can help divorcing couples navigate their divorce which is why they should be familiar with the types of documents they should prepare beforehand.