Determined to divorce? Prepare for a pile of paperwork. It all begins with collecting the financial documents that tell the story of your relationship. The sooner you gather these files, the better. The following are especially important:
Whether you filed separate or joint taxes, you’ll need access to tax returns that reflect both you and your spouse’s financial situation. If possible, obtain state, federal, and local tax returns dating back at least three years.
Proof of Income
Proving income can be tricky, especially if you or your spouse harbors any semblance of entrepreneurial spirit. Pay stubs are just the beginning; look for 1099 forms, business contracts, and other evidence of income. Provide documentation of all businesses in which you or your spouse have held interest these past three years.
Bank and Credit Card Statements
Assets and debts cannot be divided until they are accurately identified. Bank and credit card statements play a huge role in this process. These records can determine not only how assets can be equitably divided, but also whether your spouse has engaged in fraudulent activity such as hiding income. Unless doctored (which is easy for a skilled attorney to identify) bank statements don’t lie.
From your 401(k) to your spouse’s pension plan, documents associated with retirement may play a huge role in your divorce. Begin document retrieval by speaking with the human resources departments at your respective places of employment. At minimum, strive to obtain benefits statements, summary plan descriptions, procedures for qualified domestic relations orders (QDROs), and any information provided by the plan’s sponsor.
Ready to file for divorce? Don’t go it alone. The law firm of Barna, Guzy & Steffen, Ltd. will guide you through every step of this difficult process. Reach out today to learn more.