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Financial documentation and divorce

Given how life-changing a divorce can be, going into such legal proceedings properly prepared can be critical. One key step in preparing for a divorce is gathering financial documents. This can include a wide range of documents, such as brokerage firm statements, tax forms, investment documents and bank account statements.

Why is having full and detailed documentation on the finances in a marriage so important when one is getting divorced?

Well for one, having an accurate picture of financial matters can inform a person as to what approach in upcoming divorce proceedings regarding finances, like division of property, would be most consistent with their interests. Also, having thorough documentation could help a person with supporting their arguments and assertions in such proceedings.

Now, many things can give rise to special issues when it comes to collecting such documentation in preparation for a divorce. This includes electronic financial documents.

As with many things these days, a lot of a married couple’s financial documentation may be digital in form. One thing that could create issues for a divorcing person when it comes to such documents is if they suddenly encounter barriers to accessing them. This could include their spouse changing the passwords to access them online. One thing a divorcing person can do to head off this issue is promptly print out paper copies of such documents.

Skilled divorce lawyers understand how important having full and accurate financial documentation can be when going into a divorce and that gathering such documents can have its challenges. Such lawyers can assist individuals who are heading into a divorce with this and other important steps for getting ready for a divorce.

Source: Business Insider, “7 things you should never do if you're about to get divorced,” Emmie Martin, Feb. 8, 2017

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