Do you sense that divorce is on the horizon? If so, it is important to be prepared. One step in preparing for divorce is to gather documents you are likely to need. It may be wise to store these documents in a safe location outside of your home. You may choose to keep them at the home of a trusted friend or family member, or perhaps open a safety deposit box with your bank and store them there.
Here are some documents to collect:
Collect the originals of the following documents:
- Your birth certificate and social security card
- Birth certificates and social security cards of your children
- Passports for you and your children
- Estate planning documents, such as your Last Will & Testament
- Advance directives, such as your Living Will, Healthcare Power of Attorney, or Durable Power of Attorney
- Your academic records
- Records relating to your professional licensure
Gather hard or electronic copies of the following documents:
- Documentation of assets held by you and your spouse, whether jointly or in your individual names, such as titles to automobiles, deeds and closing documents for real property, and detailed household inventory (including photos)
- Last six months’ worth of statements for financial holdings of you and your spouse, whether in joint or individual names, including checking and savings accounts, investment accounts, and retirement accounts
- Documentation from your date of marriage of any titled assets or financial accounts in your name or your spouse’s name, along with documentation tracing where the asset went in the event it was sold or moved
- Last six months’ worth of statements for any liabilities including mortgages, credit cards, or loans
- Rental agreements
- Recent household budget with supporting documentation (cell phone bills, utility bills, etc.)
- Academic records for your children
- Medical records, including prescription records, for your children and yourself
- Insurance policies (health, auto, home, renters’)
If you think you may be headed for divorce and would like to learn more about how to best prepare for that, contact MEM Law today.
Preparing for Divorce: Document Gathering