Preparing for Divorce: Step 3 – Make photocopies of all the financial records

Continuing our series on practical steps to take when it becomes obvious that divorce is imminent, we are now on to step 3. Step 3 is simple, but important.

Step 3 is to make photocopies of all of the pertinent financial documents.

As you gather the important financial documents, you should make two copies of each of them. One is for you and one if for your lawyer. Keep your copy in your divorce notebook or file folder. It is important to keep a list of what documents you have, what documents you still need, and which of them you have given to your lawyer.

Each case and each lawyer may require a unique set of documents. But, some of the common ones will include at least the following basic ones:

• Income tax returns for at least 3 years;
• Most recent pay stub showing year to date income;
• 12 months statements on every financial account (including retirement accounts);
• 12 months statements on every credit card or line of credit; and
• Deeds for all real estate owned by either party individually or jointly.