It is no secret that going through the process of divorce is not simple. It is because of this that it is best for spouses to prepare ahead of time if they are able to. There are many different ways a person can get ready for their divorce proceedings, including collecting the documentation they will need throughout the process. Continue reading below to learn more and contact an experienced New York divorce attorney for assistance.
What Financial Information is Needed?
The following financial information will be needed for a divorce:
- Individual and business income tax returns (state and federal)
- W-2 statements
- Recent employment pay stubs
- Monthly bank statements
- Stock, bond, and mutual fund monthly account statements
- Account statements for annuities, CDs, 529s, UTMA/UGMA, etc.
- Social security statement
What Property Information is Needed?
Spouses must gather the following property information for their divorce:
- Primary residence
- Rental properties
- Vacation homes and timeshares
- Business property
- Personal property of value
- Interests in a trust
- List of property owned by each party prior to marriage
- Vehicles, boats, motorcycles, etc.
- List of safety deposit box contents with a photocopy of signature cards
- Gifts to individuals
Are Child Related Expenses Needed?
When a family is going through a divorce and there are children involved, the following information is needed:
- Number and ages of children
- Health insurance
- Medical expenses
- Gifts or transfers to minors
- Special needs designations
What Information on Bills and Debts are Needed?
In addition to the division of property in a divorce, bills and outstanding debt are divided as well. That is why the following information is needed:
- Credit card statements (joint and individual)
- Loan documents
- Leases on vehicles
- Tax lines/debts due to the IRS
- Utility bills
- Money due to third parties
- Student loans, tuition, etc.
- Outstanding medical bills
- Arrears on prior support orders and agreements
- Monthly budget worksheet
What Legal Agreements are Needed?
The following legal agreements are needed for a divorce:
- Living wills
- Powers of attorney
- Advance healthcare directive
- Prenuptial agreement or postnuptial agreement
- Divorce judgments
- Business partnership agreements, records, books, etc.
Do I Need to Prepare Insurance Documents?
Insurance documents are also needed throughout this time, including the following:
- Health insurances
- Life insurances
- Auto insurance
- Homeowner’s insurance
- Long term care insurance
- Disability insurance
Contact our Firm
Zimmet Law Group, P.C. is an experienced team of attorneys guiding clients through matters of estate planning and administration, divorce and family law, real estate, commercial litigation, business law, bankruptcy, and landlord-tenant law. If you require the services of an effective New York City attorney, contact our firm today to schedule a consultation.