Going through a divorce is not a simple process. It is because of this that it is beneficial for spouses to prepare themselves ahead of time if they can. This can be done in a variety of different ways, such as gathering the proper documentation that will be needed throughout the proceedings. Continue reading below to learn more about which documents are needed and contact an experienced New Jersey divorce attorney for further assistance.
What Financial Information is Needed?
In a divorce, the following financial information will be needed:
- Individual and business income tax returns for the last 3-5 years (state and federal)
- W-2 statements for the last 3-5 years
- Recent employment pay stubs
- Monthly bank statements for the last 1-3 years for joint and individual accounts
- Stock, bond, and mutual fund monthly account statements for the last 1-3 years
- Account statements for annuities, CDs, 529s, UTMA/UGMA, etc. for the last 1-3 years
- Social security statement
Retirement savings information will be needed as well, such as 401(k)s and 403(b)s, IRAs, SERPs, SEPs, Keoughs, and pension statements.
What Property Information is Needed?
The following property information is needed in a divorce:
- Primary residence
- Rental properties
- Vacation homes and timeshares
- Business property
- Personal property of value
- Inheritance
- 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 children are involved in a divorce, the following information is needed as well:
- Number and ages of children
- Health insurance
- Medical expenses
- Education
- Gifts or transfers to minors
- Special needs designations
What Information on Bills and Debts are Needed?
In a divorce, bills and outstanding debt are divided as well as properties. That is why the following information is needed:
- Credit card statements (joint and individual) for 1-3 years
- Loan documents
- Leases on vehicles
- Tax lines/debts due to the IRS
- Utility bills for the last 1-3 months
- 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 to be prepared for a divorce:
- Wills
- 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?
In addition to the previously listed information, insurance documents are needed as well. This includes but is not limited to:
- Health insurances
- Life insurances
- Auto insurance
- Homeowner’s insurance
- Long term care insurance
- Disability insurance
Contact our Firm
If you need an experienced legal team to guide you through your divorce, contact Townsend, Tomaio & Newmark L.L.C today.
