1. Become familiar with all of the marital assets, income and expenses. For example:
a. Know the current balances in your checking, savings and money market accounts. If the account is solely in your spouse's name and you do not have access to statements, know what institution the accounts are held
b. Know the balances in all retirement plans such as 401(k) plans, 403 (b) plans, IRAs, CDs, pensions. If you cannot determine the balance, try to ascertain what institution manages these accounts.
c. Know what stocks or mutual funds you and your spouse own and the values of these assets. Again, if you do not have access to statements, try to ascertain what institution manages these funds.
d. Outline what the current expenses are in your home, such as mortgage, rent, utilities, car payments, insurance (health, auto and home).
e. If you own real estate, know the balance due on the mortgage or any other liens against the property. Try to determine an estimated fair market value of the property.
f. If you use or your spouse uses credit or charge cards, know the specific account numbers, the type of card and the balance due on each card.
g. Become familiar with recent income tax filings.
h. Determine how much your spouse is currently earning and whether he or she is contributing to a work related retirement plan. Copies of paystubs should reflect this information.
i. Know your spouses social security number.
j. If possible, make copies of all documentation reflecting the above information and keep these copies in a safe place.
a. Outline the average monthly expenses related to the children. (i.e. daycare, babysitters, activities)
For help, contact Lusk Law LLC