Information to Collect Before Your Divorce

You never expected that you would get divorced when you walked down the aisle, but divorce is a very common part of life for many people. If have yet to move forward with your divorce, taking steps to prepare for the legal aspect of it can save you frustration and hassle down the road. Information to Collect Before Your Divorce

Part of family law NJ involves dividing your assets. For this reason, you should collect documentation related to your income, debts, and real estate before you move forward.

Income Information

Gather copies of your paycheck stubs for the past year as well as the paycheck stubs of your spouse. Locate copies of your most recent tax returns. If you and your spouse own a business together, gather information related to its expenses and assets.

Additionally, you should collect documentation relating to any retirement accounts you and your spouse own. This may include investment accounts, pension accounts, 401(k)s, and life insurance policies.

Real Estate Information

Do you and your spouse own a home together or any other real estate? Before your divorce, make copies of your most recent mortgage statements. You should also find any documentation related to the initial purchase of the property in addition to recent tax assessor documents.

Debt Information

Go through and make a list of unsecured, outstanding debts you and your spouse are responsible for. This list should include medical bills, credit cards, and any other loans in the name of your spouse and your name.

After you collect this information, come up with a way to store it so you and others you give permission to can access it easily. For instance, scan these documents to make digital files and keep hard copies with your records. As you go throughout the divorce process, professionals working on your case may request copies of your financial information, so be prepared to share if needed.