What Financial Documents Do I Need For My Santa Clarita Divorce
Gathering financial documents for your divorce will probably not be on the top 10 fun things to do. How do I know this? Because this is where the divorce process inevitably slows down and I have to follow up with my clients to make sure they are on top of it.
Essentially, you will need to compile a list of all your financial documents (assets and debts ) that you obtained before you were married, durring marriage and after separation. As part of the mandatory financial disclosure process, you will have to supply copies of your most recent statements and other financial documents to the other party.
It is a good Idea to list your assets and debts based on what is community property and what is separate property. When it comes time to complete your financial disclosures, you will need copies of the following Assets and debts. Generally, just your most recent statement will suffice.
- Checking and saving accounts
- Real Estate Deeds
- Mutual Funds
- Stock Options
- Vehicle information
- Household Furniture
- Life Insurance Policies
- Tax Refunds
- Lines of Credit
- Credit Cards
- Vehicle Loans
- Student Loand
- And any other debts
If you are wondering what all is involved in completing your financial disclosures, you can read the article and watch the video on how to complete the schedule of assets and debts and how to complete the income and expense declaration.
For many folks who are going through an uncontested divorce it may seem unecessary as sometimes the accounts and financial statements are almost identical if not exactly the same for both spouses. However, this disclosure process is essential if you want to have your divorce finalized.
Once both parties have completed ther process of the finanical disclosure, you can move on to preparing the judgment which essentially divides up the assets and debts.
For more information on the financial dislosure process during divorce please give us a call or visit ou