Divorce is legal dissolution of marriage and like all legal procedures; many documents are required for submission as well as deciding issues like division of property, child support, spousal support, visitation rights etc.

Documents related to family finances are required so that your divorce lawyer is able to draw up a clear picture of finances involved which can prove beneficial during negotiations in the final marriage settlements. The documents that would be required include:

• Documents related to marital debts, property valuations and assets.
• Documents showing your income tax returns.
• Documents proving and accounting other sources of income.

In court, a very well developed and complete financial statement would add support to your case. The documents can be organized into categories so that nothing goes amiss or unattended.

Income – get paycheck stubs for all employment sources for a period of one year. Get your income tax returns and other tax forms ready if you are self employed. This should include any business interests you and your spouse held over a period of three years. If possible, your spouse’s pay stubs can also be collected for the same period so that earnings and deductions can be calculated. All documents like check registers, canceled checks, payment receipts, profit and loss statements, financial statements, bank statements etc are necessary in order to account for business expenses if you or your spouse is self employed.

If both of you are employed in a company, copies of check le dgers would show money spend during expenses. Documents showing statements showing net worth for securing bank loans are necessary. All other information that can be used to calculate the net worth of you and your spouse should be submitted to your lawyer.

Real estate – all documents related to property bought during marriage and owned separately and together would be needed while preparing marital agreements. These documents could be obtained from the bank or mortgage company. Your current mortgage commitments and statements on property owned along with all documents related to initial purchase of real estate are mandatory so that equitable sharing is facilitated.

Other documents would include refinancing papers if any, tax assessor’s statements, legal descriptions of real estate owned with spouse, mortgage statements etc.

Savings and Checking Accounts – passbooks, savings certificates of individual and joint accounts, all bank statements for the past 2 years, etc.

Life Insurance – current life insurance policies on your life, spouse’s life or on children, all individual and group policies, all statements with regard to loans taken and cash balances.

Debts – all documents showing debts incurred by you and your spouse while married including credit cards, medical bills, loans, etc.

In addition pension funds, retirement funds, mutual fund, IRAs, are the other documents that would be needed in a divorce process and those considering divorce better start collecting them.