When you and your spouse had finally decided to go separate ways, all you have to do is to set everything in line (at least, legally) through divorce procedure. To start with, prepare the required documents for the initial proceeding. Your legal advisor will be the one to ask you about these papers. Meanwhile, be informed about these documents.
- INCOME STATEMENT
- This involves paycheck slips from last year before divorce; income tax returns or any form of statement about your business or kind of work if you are self employed; and/ or documentations regarding any business venture you and your spouse have had for the past three years. The documents regarding the business should have the following:
- Check registers
- Bank statements
- Cancelled checks
- Financial Statements
- Payment receipts
- Revenue and Loss Statements
- Ledgers
- Any form of information that will determine both of your own net worth (individual and conjugal).
- SAVINGS AND CHECKING ACCOUNTS
- Bank statements within two years whether personal or joint accounts, plus passbooks and other bank certificates.
- LIFE INSURANCE
- Any shape of life insurance of each of the spouse and of their children is included herein. Whether it was granted by a company or applied personally is not an issue, declare them anyway, along with the cash balance and loans against the insurance and anything of such.
- DEBTS
- Any kind of debt under the name of your name and that of your spouse. This may include credit cards, medical bills, mortgage, house loans and other form of loans.
- RETIREMENT FUNDS
- Submit an updated copy of your pension statement or retirement funds, IRA’s…etc.
- AUTOMOBILES
- Forward the list of all kinds of automobile in your possession from cars to snowmobile or farm equipments whether solely owned or by conjugal. Remember to include the status of payment of these whether it is under loan, paid monthly or paid in full cash and the insurance of these automobiles.
- REAL ESTATE PROPERTY
- Land titles or any legal description of the land and house you have owned whether acquired solely or conjugally. This also encompasses current loans and mortgages whether in company or bank, tax assessor’s statements, all documents concerning the initial purchase or refinancing.
