Nothing about divorce is easy, especially financial issues. Whatever your income status is, high earner to stay-at-home spouse-,you’ll face financial challenges during a divorce. To avoid being emotionally rattled; get prepared.
To financially prepare for your divorce, start by taking stock of your current financial situation. You may want or need to set up new bank accounts, while also updating old ones. Luckily, you’re not the first person who’s had to figure out how to prepare for divorce, and we’re here to help you figure out your You’ll need a clear picture of your finances to use as evidence during the divorce proceedings and to develop a plan for after the divorce is final. It’s a good idea to keep this information backed up in a couple of safe places.
Here are some of the most important financial and personal documents to round up:
- Marriage certificate
- Tax returns from the past three years
- Recent statements for bills, property taxes, and utilities
- Recent statements from your bank and investment accounts
- Your current budget (or a list of monthly and annual expenses)
- Recent statements for any income, like pay stubs, government benefits, or side hustle income
- Registration and title information for any property, like your home, car, or recreational vehicles