Divorce is deeply personal, but much of the legal process comes down to paperwork. Financial records and other documents help establish what each spouse owns, owes and earns. They can affect decisions about property division, spousal support and other important matters.
Gathering these records early can make the divorce process easier and give you a clearer picture of your financial position. It can also reduce the risk of delays caused by missing or incomplete information. Although the documents required will depend on your circumstances, the following are a good place to begin.
Prenuptial and postnuptial agreements
If there’s a prenuptial or postnuptial agreement in place, locate a complete copy and provide it to your attorney. The agreement may affect how certain assets or debts will be handled during the divorce.
Not every provision is necessarily enforceable. For example, spouses generally cannot use an agreement to make binding decisions about child custody because courts must consider the child’s best interests at the time of the divorce.
Records of your assets and debts
You will need documents showing what you and your spouse own, along with what you owe. Start gathering recent statements and records for items such as:
- Checking and savings accounts
- Credit cards and personal loans
- Mortgages and home equity loans
- Retirement and pension accounts
- Stocks, bonds and other investments
- Life insurance policies with cash value
- Real estate and business interests
- Cryptocurrency and other digital assets
Some assets are easy to overlook, particularly those that are not held in traditional bank or investment accounts. Try to create as complete an inventory as possible, including property held individually, jointly or through a business.
Proof of income
Income information may be important when determining spousal support, child support and each spouse’s ability to meet financial obligations. Depending on how you earn money, useful records may include pay stubs, employment contracts, tax returns and bank statements.
Be sure to account for income beyond your regular wages. This could include bonuses, commissions, royalties, rental income, trust distributions, investment income or earnings from a side business.
Both spouses are generally expected to provide accurate and complete financial information. Intentionally hiding assets or income can lead to court penalties and may seriously damage a person’s credibility. An attorney can help you determine which documents are required, identify missing information and prepare for the financial disclosure process.
