Ekker Law, P.C. / Steven B. Ekker, Esq.

Preparing Financial Documents for a Divorce

 Posted on March 03, 2022 in Divorce

Kane County family law attorneyWhen you are considering a divorce, it can be a very emotional and stressful time. There are certain steps, however, that you need to take in order to ensure that you get the best possible outcome possible based on your situation. One of the most crucial elements of any divorce case is ensuring that all information regarding marital finances—both assets and debts—are shared with your divorce attorney. The following are some of the steps you should take as you prepare to file for divorce.

Preparing the Paperwork

Whether you are still contemplating divorce or have made the decision that you want out of your marriage, there are things you can do to help organize your finances before you actually file your divorce petition.

When you file for a divorce, in addition to the motion requesting the dissolution of your marriage, you will also be required to provide the court with a financial affidavit. A financial affidavit asks a series of questions which will help determine what your financial status is. You will need to answer questions such as all sources of income, including any tax, insurance, union dues, or other deductions. You will also be required to provide a list of all your expenses and other debt.   

Along with that affidavit, you may also be required to provide the court with other financial documentation. These items could include:

  • Tax returns for the past several years
  • Recent pay stubs
  • All bank account statements
  • Any retirement account statements
  • Property deeds, vehicle titles and any loans associated with property owned
  • Credit card statements
  • Life insurance policies

It is critical that you are completely truthful on your financial affidavit regarding what your income and expenses really are each month. This document is signed under the penalties of perjury, so lying could result in serious legal consequences

The same applies to disclosing any bank accounts or other financial accounts you have. For example, not disclosing a savings account you have in an effort to prevent your spouse from receiving part of it in the final divorce settlement could backfire if the account’s existence is revealed during divorce litigation.

Other Assets

When people are gathering their financial documents, they often forget about items that are in the home that are actually valuable and could be considered part of the marital estate. Items such as art, jewelry and collections may add significant value to the final divorce settlement.




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