When a marriage ends, the whole family will often suffer some emotional, mental and even physical pain. The process can be even more complex and complicated when it involves children or considerable assets. Anyone who has decided to get divorced can minimize the time and effort the process takes by compiling the necessary legal documents, as identified by Fidelity.
Tax documents are important to have to report income and any taxes that the family pays. These documents include W2s, state tax returns, federal tax returns, 1099s and Schedule K-1s from the last three years. A divorcing couple should also collect all documents with information about excise, property and Social Security taxes.
Debt and loan documents
The couple should gather any loan records. This includes any of the following:
- Loan applications
- Mortgage agreements
- Personal loan records
- Student loans documents
- Loans agreements for vehicles, such as cars and boats
Any bank statements from credit cards for the last three years, commercial loan information and records of payment or forbearances are also important.
Necessary information about the children or dependents includes health insurance records, legal names, phone numbers, email addresses, Social Security numbers and dates of birth. Each spouse should have a copy of the same information for themselves. A copy of the marriage certificate is also important to have when the divorce filing process starts.
Along with these documents, the records for the following may also be necessary: investment accounts, financial accounts, motor vehicles, real estate, budget documents, primary income and secondary income. The budget documents may include household budgets, utility costs and dependent costs.
It is important to gather essential documents ahead of the divorce proceedings. Preparation is key to ensuring a fair and timely outcome.