Making the decision to file for divorce is often one of the hardest decisions a person has to make. Leaving a familiar life, albeit an unhappy one, can be an intimidating prospect. However, it is a decision that millions of people make each year.
Once the decision is made, there are many issues that will need to be decided, including asset and property division, child custody and support, and spousal support. All of these issues are tied to a couple’s financial situation. That is why, whether the divorce will be an amicable one or a contentious one with all-out battles, there are financial documents that both parties will need to provide to the other. Having these documents prepared when you have your initial consultation with your divorce attorney can not only save time, but also help cut down on the legal costs.
Each spouse will be required to fill out a financial affidavit. This document includes questions about income, assets, expenses, and other liabilities each party may have. It is critical that this document be filled out truthfully. It is an affidavit, and it is signed under the penalties of perjury.
There are also financial documents that each spouse is required to submit to the other, along with the affidavit. These documents include:
- All W-2, 1099, and K-1 forms from the past 12 months;
- All federal and state income tax returns for the past three years;
- The three most recent months of paycheck stubs;
- All bank account statements, including any and all checking and saving accounts;
- Any deeds, lease agreements, and loan applications the party has;
- All credit card statements;
- All retirement fund plans; and
- Any life insurance policies.
Going through the divorce process, even if you are the spouse initiating it, can feel overwhelming sometimes. This is why it is important to have an experienced divorce attorney in St. Charles, IL representing your best interest and advising you of what all your legal options are. Call Bochte, Kuzniar & Navigato, P.C. at 630-377-7770 for a free consultation today.