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Divorce and Finances: What Documentation Should I Gather?




 

In economic cases the documentation to be provided to your counsel depends on whether it is a spousal support, alimony pendente lite, or child support case or if it is instead an equitable distribution, alimony, counsel fees, costs and expenses case.

A spousal support, alimony pendente lite or child support case is primarily an issue of each party’s net disposable income. At a minimum the following, where applicable, will be needed:

  • Three to five years of business income tax returns, current income and expense statements, and asset and liability statements.
     
  • Three to five years of personal income tax returns, W-2 forms, forms 1099 and K-1 forms.
     
  • Budgetary expenses for client’s home(s) and the other spouse’s home(s).
     
  • Listing of birthdates, educations and careers, as well as any important events (illness, accident, etc.) for the parties and their children.
     
  • Health insurance expenses.
     
  • Children’s activity expenses.
     
  • Children’s tuition expenses.
     
  • Any unusual expenses.
     
  • Other household income.

Note that in the greater income cases, the budgetary expenses are necessary. Obviously, each case must be tailored to its own facts. Additional or less information might be required.
 
Equitable distribution, alimony, counsel fees, costs and expenses cases consist of a full analysis of the respective client’s assets, liabilities, incomes and expenses. In addition to the above listed items for support cases, the following information below is necessary for equitable distribution, alimony and other complex financial cases:
 

  • Listing of all assets and debts.
     
  • Approximate current value of assets.
     
  • Approximate current balance of debts.
     
  • Purpose for each debt.
     
  • Picture of home(s) and real estate.
     
  • Title or ownership of assets.
     
  • Purpose for non-typical assets.
     
  • Inherited or gifted assets.
     
  • College funds.
     
  • Obligation to or from family and friends.

In all cases, your family law attorney will need to know dates of births, educations and careers for each spouse and the children, activities, major illnesses, gifts, inheritance and other significant events in the family. Additionally, information about prior marriages and pre or post marriage agreements should be brought to the initial office visit.

Each case is unique, some more complicated, particularly with high net worth individuals. The experienced family law attorneys Pollock Begg Komar Glasser & Vertz LLC are well-versed in complex financial divorce matters. Contact our office today and we can advise on your individual situation.  
 

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