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WHAT TO DO AND WHAT TO WATCH FOR IN CONNECTION WITH YOUR DIVORCE
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Personal Property Inventory
If possible before moving out permanently or before your spouse moves property from the house, take an inventory of all property in the house (preferably with an impartial witness). If you wait until later, articles may disappear or be replaced. You may even want to have a personal property appraiser come to do the inventory with values for each item. Take pictures of significant collections (guns, jewelry, silver, furs or(antiques). Technically, assets that disappear within one year before the divorce can be counted against the property share of the person who disposed of the assets.
Safe-Deposit Box
Check any safe-deposit box to which you have access. You may want to remove cash, jewelry, or other valuables from the box so that they are not taken by your spouse. Or you can divide the items together and make a list of them. Obtain copies of all deeds to real estate and your most recent Will and take those items to your lawyer.
Financial Records
When you move out or before your spouse takes them, get copies of bank account records, certificates of deposit, pension plan and IRA statements, insurance policies (life, homeowners, health, disability, and auto), all years’ tax records, canceled checks and other financial documents. If the other spouse hides or destroys these records, replacing them on your own or through your lawyer will be difficult and expensive. Also try to collect as much information as possible on any business that either of you operate or own. |
Disclosure
Keep in mind that all of your financial records may be scrutinized later by the opposing attorney. Even canceled checks, loan applications, past financial statements and credit statements can be demanded while the action is pending (and even thereafter if a post-judgment motion is set.)
Will and Insurance
Consider revising your Will to cover the possibility that you might die before the divorce. You may want to replace our spouse as a beneficiary with children or other friends and relatives. Check to be sure all insurances are in full force and likewise review who the beneficiaries are. |
Debts
You will probably want to give written notice to credit card companies that you will not be responsible for any future charges by your spouse. Many couples cancel joint cards and start their own separate accounts. Check with creditors periodically to see that your spouse is making timely payments on debts for which he or she is responsible. Notify your attorney immediately of any Marital Property Law notices from new creditors your spouse has gone to and of any default notices. Stay apprized of all debt balances due creditors.
Diary
A notebook of events may be important in the divorce case, especially if custody, visitation, or disappearing assets are a problem. A judge and your lawyer will want to know dates, names of witnesses and exactly what happened. Do not antagonize your spouse or children by revealing that you are keeping such a diary. Also note any significant purchases that your spouse makes or trips taken. |
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