Even in the most amicable divorce cases, things can become messy and stressful. It is mentally and emotionally taxing, not to mention the time required for many papers. Especially if you have joint assets and debts to divide. However, you can reduce the stress of divorce through prior preparation.
Personal Documents
The first step in gathering the paperwork for divorce is to track all documents that show some specific personal information. Some of these details are required by divorce courts, while others can help outline some agreements regarding separation.
General Financial Documents
One of the most important and complicated elements of divorce is documenting and dividing finances, including bank accounts, investments, and shared property. You will need to provide enough paperwork to give a comprehensive picture of your financial situation as a couple. This paperwork may include:
Shared Assets
Assets that were brought into your marriage individually, as well as assets that were accumulated together as a couple, will need to be redistributed upon divorce. How those assets are divided depends on whether you have any prior agreements and the state you live in. Documents relating to this may include:
Debts
Dividing debts is another important step in divorce, and the precise process depends on the specific type of debt. Therefore, it’s important to provide proof of all debts owed by you or that you have signed for, including anything you have signed with another person.
Child Custody Documents
Not all couples who divorce have children. However, couples with children face additional challenges regarding child custody and parenting agreements. It’s important that your legal attorney and the courts have a complete picture of the children you share with your spouse, if any. They will need:
Frequently Asked Questions
What documents do you need to file for divorce?
The divorce process requires extensive documentation. In addition to the specific forms required by the courts, you will also need to provide financial statements, forms, contracts, and any personal documents (contact information, Social Security cards, birth certificates, etc.) for yourself and any children involved. It is best to consult a divorce lawyer regarding the exact documents required.
How are finances divided in divorce?
The method of dividing finances in divorce depends on whether there is a prenuptial or postnuptial agreement, as well as your state of residence. For example, if you live in one of the nine community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin), assets acquired during the marriage by either spouse are considered community property and are typically divided equally in divorce.
How long does divorce take?
The time it takes to complete the divorce process depends on many factors, including the complexity of each spouse’s financial situation, whether there are children involved, and how willing both spouses are to accept the proposed terms. On average, a divorce without children takes 11 months, while a divorce with children takes 15 months.
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Source: https://www.thebalancemoney.com/divorce-checklist-financial-paperwork-you-need-for-divorce-7091424
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