Blog

What Records and Documents Should I Gather if I am Considering a Divorce?

If you are considering a divorce in New Jersey, a wise starting point is to inventory your financial records and documents.

Here is a list of 14 records you should gather:

  1. Social Security Earnings Statement.  This is a snap shot of both parties’ respective income.  The statement shows a clear picture of the earning history of each party.
  2. Last five years of tax returns, and all W-2s, 1099s and K1s.
  3. Current copies of all bank, brokerage, and stock account statements.
  4. Employers Benefit Manual.  The manual provides a detailed list of every benefit provided by an employer to an employee.  Benefits include health insurance, disability insurance, life insurance, 401(K), ESOPP, ESPP, pension information, and the like.
  5. If a pension is involved, documents from the plan administrator detailing the nature of the pension, the benefits of same, the specifications, and a form Qualified Domestic Relations Order. The plan administrator requires these to divide the pension.
  6. Copies of any other defined benefit and defined contribution retirement account statements, (i.e., IRAs, 401K, 403(b)).
  7. Copies of all the children’s savings accounts, 529 Plans, savings bonds, etc.
  8. Documentation to prove the existence of any other asset.
  9. Copies of credit card statements to show debt and charges. Year-end summaries are extremely helpful.
  10. Inventory of any safe or safe deposit box.  Make videos and photograph all items. This will safeguard any item you cannot bear to have disappear.
  11. Inventory artwork, wine collections, furniture, furnishings, jewelry, sentimental property or other valuable collections. Again, make videos and photograph.
  12. Your spouse’s health insurance policy. Obtaining and maintaining your own health insurance must be explored after the divorce.
  13. Current mortgage  and credit line statements. Confirm if your bank requires dual signatures before anyone can access your credit line.  Close the line of credit if there is a concern that the other party will loot the line of credit and take the money.
  14. Each party’s last three pay-stubs.

Proving Your Claim

If you claim something that is premarital or inherited, and is not subject to equitable distribution, you need to prove your case. Therefore, you will need to compile all documents necessary so show its immune status.

I always ask the client to provide me with a wish list and a statement as to where they want to be in a year after divorce to help me develop a strategy to achieve their goal.

As I review their list, the documents I need often change. I work with clients to identify, assert, and prove all claims so to successfully show what the client is entitled to in the divorce.

Contact me at jlawrence@lawlawfirm.com for more information about this blog or other divorce and family law issues.

Subscribe to Our Blog

SHARE THIS POST:

Related Posts

Blog
Domestic Violence and the COVID-19 Pandemic

Domestic violence is pervasive and a cycle of violence that will repeat over and over. The COVID-19 pandemic cannot break the cycle of domestic violence. There are many reports and articles of increased instances of domestic violence since the implementation of stay-at-home orders with victims at home with their abusers. However, there are resources that…

Read More
Blog
Marriage Story, the Movie, Troubled Me

Several weeks ago, I watched the movie, Marriage Story.  During the movie, I was troubled by the unfolding story. Those feelings remained with me for weeks. I have thought about the movie almost every day since seeing it and why it bothered me so much. First, the wife bamboozled her husband. His son was essentially…

Read More
Blog
Rising Divorce Rates During the Coronavirus Crisis

There are reports about how quarantined married couples are the cause of rising divorce rates during the coronavirus crisis. Family law attorneys are talking about it and there are plenty of jokes and memes circulating on the internet. I do not find it funny. I feel for those struggling and in pain in their marriage…

Read More
Blog
Family Law Carries on During the Coronavirus Crisis

I have been getting many questions from clients and prospective clients about what is going on during these times. Without question, family law carries on during the coronavirus crisis. When Lawrence Law opened its doors, we made sure to have the best technology available so we can always serve our clients. Lessons were learned from…

Read More
Blog
COVID-19 Pandemic has an Impact on Family Law

I am receiving an increasing number of calls from concerned clients about the impact of COVID-19 on their family law matters. Concern #1 is their parenting time. We are near a time when self-quarantining is a reality. This is an incredibly important measure to keep our families healthy and safe. Emerging are instances where one…

Read More
Blog
What is the Cost of a Divorce in New Jersey?

A recent analysis was published regarding the cost of a divorce in New Jersey. According to the study, the average cost of a divorce without children totals $15,600 and with children, the cost increases to $23,400. One of the first questions I am asked during an initial consultation is how much the divorce process will…

Read More
Call Now ButtonCall Us