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Financial Checklist for People Contemplating Divorce and Separation

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It is a good thing to create a  Financial Checklist for People Contemplating Divorce and Separation.

In any type of divorce process, it is important to document your marital estate. The marital estate generally comprises all assets and debts acquired by either party during the marriage, regardless of title. There are numerous exceptions to this rule, so this issue carefully with your attorney or Mediator.

Regardless of how or who acquired the asset, as long as it was acquired during the marriage, then it needs to be included in the Financial Checklist for People Contemplating Divorce and Separation. Gather information on an asset used during the marriage also, regardless of when it was obtained.

An asset is anything that is worth money! An example would be any real estate, a car, a boat, a valuable piece of artwork, a retirement account, or an investment account. You don’t need to be concerned about loans on the assets (such as your mortgage or a car loan) at this point, because you will be listing all of these debts separately.

The result will be your “net” marital estate.

Here is a brief checklist to help guide you with this process. It is by no means a comprehensive list, so anticipate that your attorney or Mediator will need more information, but it is a good starting place.
Financial Checklist for People Contemplating Divorce and Separation
Income/ Assets:
• Income tax returns for the previous five years
• Retirement account statements; one from the date of marriage, one current.
• Estimated valuation of all real estate acquired during the marriage
• Estimated value of the marital residence, if owned
• Statements from current investment accounts
• Statements from college savings accounts for minor children
• Estimated (Blue Book) value of all automobiles
• Itemization of all valuable artwork, jewelry, etc. with estimate of values
• Copies of all trusts
• Copies of all whole life insurance policies or annuities
• Recent statements from whole life and annuity policies
• Copies of all corporate papers; Sub S Corp’s, LLC’s etc.

Debts
• Current credit card statements
• Current mortgage balances (1st, 2nd, 3rd, etc….)
• Automobile loans
• Promissory notes
• Student loans
• Secured loans
• Other debts and obligations (unsecured)

In complicated cases, a financial professional may be called on to assist in evaluating the worth of the marital estate. In the less complicated cases, you and your lawyer or Mediator can evaluate the worth using an Excell or Numbers spreadsheet, or just a pencil and paper!

What it all comes down to is that you want to identify everything that was acquired during the marriage, or used as marital property during the marriage no matter how it was acquired.

HOT TIP:   If you are interested in saving money, you need to have this information as well organized as possible for your attorney or financial professional or before you come for Mediation. You will be paying by the hour for this service, so the less time needed to spend organizing your financial matters, the less money you will pay!

Also, if saving money and privacy and a quick divorce is important to you, be sure to get in  touch with Jerry Cosby of Texas Mediation Group today.

How Important Is The Role Of A Great Divorce Lawyer

This entry was posted in Mediation in the News and tagged divorce mediation costs on by
Divorce Mediation New Jersey, NJ Divorce Mediation Services, Mediation ...

The laws of divorce are very complicated and go beyond deep, making it almost unworkable for a common person to get divorce without seeking a professional’s advice.

When an expert or a professional divorce lawyer such as Plano divorce lawyer, went into action you will witness how the divorce law is being implicated and how it can change the way a case is being presented.

One of the most common complications where a divorce law usually gets in action is when a case involves the custody of a child or the case involves assets.

One classic divorce scenario is with regards splitting of assets. The assets are usually equally divided unless there’s third party involved, in which case the person caught and proven to have extra marital affair, will not be given 50% share of the total conjugal asset.

In this scenario a good divorce lawyer such as a Plano divorce lawyer goes into action, where he tried to find ways to get his client out of the case. If your divorce lawyer have thorough knowledge about the law, he or she can find a way to get around that law, everything will matter including lack of witnesses, or voiding the marriage for getting married without being at a legal age and without a parent’s consent.

About the author: If you are in trouble and think that you don’t have anywhere else to go, then visit texas-family-lawyers.com . Plano divorce lawyer knows exactly how to handle different cases and has sure won a lot of arguments. So let them take the worries off your shoulder. Visit their website.

Source: http://www.articlesbase.com/news-and-society-articles/how-important-is-the-role-of-a-great-divorce-lawyer-3324508.html

 

How Can I Find Out If Someone Is Divorced?

This entry was posted in Mediation in the News and tagged cost of mediation divorce on by
New York Divorce Mediation Results

In our day to day live, sometimes we need to check and find out relationship status of certain people. The main reason of that is, if we are getting married or even engaged the most important thing we need to check is the actual marriage status of our partner as sometimes we assume that he or she is already married or hiding any prior marriage. It is very important to make things clear before you tie up yourself in a serious and deep relationship. Sometimes it becomes so tough to investigate about someone whom you love so much, but you must do if you love yourself.

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There are countless ways to find out if someone is divorced or not but in order to get 100% accurate results you need to put some extra efforts to dedicate some time researching on the internet. Once you have managed to find a website providing this information, rest of the job will be as simple as pie. Some years ago, people used to visit nearest county clerk office where basic information about people is available and can be accessed easily. But for that you need to provide them correct information about the person like his first and last name, complete address and state of marriage.

About the author: Malinda has been writing on making people able to find out if someone is divorced. Learn more about to find out if someone is divorced and discover was he divorced.

Source: http://www.articlesbase.com/divorce-articles/how-can-i-find-out-if-someone-is-divorced-1889762.html