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< Return to Tutorial List | Skip to Next Fact > Contemplating Divorce? 10 Things You Should Know provided by Gregory L. Housewirth, Esq. Fact Two: Know Before You Go. What do you know about your family's financial situation? You should begin making an "inventory" of both your assets and liabilities. Simply put, "what do you have, and who do you owe?" Next, Make copies of your important financial documents such as: bank statements, tax returns, investment account statements, retirement plan statements, house closing documents, property tax statements, automobile loans and insurance statements, credit card statements, and any other statement you can think of that impact your financial status. Store these documents in a safe place outside your home. Similarly, if your spouse has made expenditures that have harmed your marital estate, such as expenditures on paramours, gambling, drug usage, or excessive alcohol consumption, you should attempt to identify and copy any receipts, cancelled checks, or credit card statements that identify the expenditure. Your lawyer will need to have these documents, and to the extent you can obtain and organize them, you will be saving yourself time and money, and potentially protecting your marital estate from being squandered by your spouse.
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