One of the very first steps in the divorce process involves financial information-gathering. This involves putting together a complete picture of you and your spouse’s financial situation and history throughout your marriage. Without this initial info, it is difficult or even impossible to reach an equitable agreement for both parties. However finding your financial info isn’t always easy… We don’t always keep records like we should (we’re all guilty of this sometimes). Here are a few places to look to start finding your financial info for divorce.

What kind of records am I looking for?

When we talk about financial records, we’re really just talking about and record of your financial activity and status. This includes receipts and invoices, bank statements, insurance or loan records, tuition payments or medical expense records, tax statements… anything that shows your income, wealth, or expenses. If you aren’t sure whether something is relevant, bring it to your attorney with the rest of your records. They can give you a better answer.

Start with your filing cabinet (if you have one!)

The obvious place to begin is your filing cabinet at home and at work. Start with financial folders files but also sweep the entire cabinet for financial records that may have been misplaced (especially if you’re prone to throwing paperwork in intermixed). If you have a personal accountant, there’s probably a large number of records in their filing cabinet. Reach out to them to ask for a copy of all your financial records. If your spouse works, make sure they look through their records there as well to make sure nothing is missed. If you don’t have a filing cabinet, we recommend getting one (even a small one!). This will make organizing your records in the divorce moving forward far easier and save you time and hassle.

Look at your credit score in your name.

You have probably seen commercials for many services providing free credit score reports. These free reports are a trove of information about your credit, debt and other financial activities. This can help jog your memory about all your existing debt so you don’t forget something just because you don’t have a paper statement. We recommend creditkarma.com or freecreditreport.com as two possible report sites. Most banks also provide credit score reports for their members – check your online account to see if yours does as well!

Find your most recent Tax Statement Return

Everyone pays taxes – so everyone has a tax statement return, a rich document that details your taxes. This is required for any divorce from both parties, so it’s best to find it early on and save yourself time later. We recommend our clients bring it to their very first appointment, in fact. Make sure you bring both your Federal and State tax returns, even if you didn’t pay taxes or just got a refund, along with any supporting documentation attached. If your taxes were more complex… you own businesses or other assets, bring tax information for that as well. If you can’t find your tax return, you can request another copy here. However know the process takes time – it’s best not to lose them in the first place.

When All Else Fails: Check the Garage, Attic & Storage

After you have looked in the obvious places, it is time to move to the less obvious ones. Before you finish your search, take the time to look through your garage, attic, storage, and anywhere else you may have put old paperwork. Old, unopened mail often includes mailed invoices and other financial information so go through any old piles you have laying around. This should help fill any last gaps in your financial records.

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