If you are anticipating a divorce but have yet to pull the trigger on the process, now is a good time to begin gathering the documents you’ll need to move forward more smoothly – and with the confidence that comes from knowing that you have done the legwork and have the information you need to protect your financial future. Divorce is complicated, but getting off to an organized start can help. If you’re preparing to begin the divorce process, consult with an experienced Charlotte divorce attorney today.
Your Marital Assets
One of the major components of every divorce is the division of marital property, which refers to that property that you and your spouse acquired together as a married couple. Before you can divide this property equitably, however, you need to know what your assets are (in their entirety). Often a couple’s home is their greatest asset, but in a high asset divorce or a divorce involving a business, marital property can be exceedingly complicated. When you gather the paperwork documenting your marital assets, consider all of the following (and anything else you deem pertinent):
- Your home
- Any other real estate you own
- A shared business
- Your vehicles
- Boats, RVs, and/or any other recreation-related vehicles
- Valuable collections
Your skilled divorce attorney will help you explore every financial avenue to ensure that you have an accurate representation of your marital property.
Your Financial Situation
In addition to documents pertaining to your marital assets, you’ll need to gather all the paperwork related to your financials as a married couple. This documentation should include the most current invoices and forms but should also take a look backward (five years is the gold standard). In other words, you want to capture a complete picture when it comes to your financials. This documentation should include all of the following that apply:
- Your joint income tax returns
- Employment records for both of your
- Financial records for all bank accounts, loans, credit cards, and other types of debt
- Records related to retirement accounts, pension plans, and anything else associated with retirement (for both of you)
- Your financial portfolio, including all investment accounts
- Your wills and any trust agreements
- Your Social Security statements
- Your children’s assets
It’s not entirely unusual for an unscrupulous spouse to hide or otherwise obscure assets during a divorce. Gathering documents related to your marital assets and financials early on can not only expedite the divorce process but can also help ensure that you have ready access to all the information you need if it does become necessary to engage in forensic accounting.
Discuss Your Divorce Financials With An Experienced Charlotte Divorce Attorney Today
Documenting your marital assets and other financials is critical to ensuring that your rights and your finances are supported throughout the divorce process. The dedicated divorce attorneys at Blood Law, PLLC, in Charlotte, are committed to aggressively advocating for divorce terms that protect your financial future. We’re on your side, so please don’t hesitate to contact us online or call us at (704) 286-0570 for more information today.