Going through a divorce is an emotionally and financially complex process. To protect your interests and set yourself up for the best possible outcome, preparation is key. At DIVeX Family Lawyers and Strategists, our Principal Lawyer and Director, Kristy, emphasizes the importance of gathering essential financial documents before your initial consultation. Having these records ready will help your lawyer assess your financial situation, strategize effectively, and provide accurate advice.
Here’s a checklist of the seven financial documents you must gather before speaking to a divorce lawyer:
1. Bank Statements (Personal & Joint Accounts)
Your bank statements provide a clear picture of your income, expenses, savings, and financial habits. Gather at least the past 12 months’ worth of statements for all personal and joint accounts. These records will help determine asset division, financial contributions, and any potential hidden transactions.
2. Property Valuations & Mortgage Statements
If you own real estate, obtain recent property valuations, mortgage statements, and details of any rental income. This information is crucial for property settlements, assessing equity, and determining liabilities. If a professional valuation isn’t available, recent market appraisals or council rates notices can be useful.
3. Superannuation Statements
Superannuation is often one of the most significant assets in a divorce settlement. Obtain the latest superannuation statements for yourself and, if possible, your spouse. Understanding the value of superannuation funds is essential for fair asset division, particularly in long-term marriages.
4. Tax Returns & Notices of Assessment (Past 3 Years)
Tax returns provide a complete overview of income, deductions, and financial obligations. Bring your last three years of tax returns and Notices of Assessment from the ATO. These documents help verify income sources, assess liabilities, and evaluate financial contributions throughout the marriage.
5. Payslips & Employment Contracts
If you or your spouse are employed, recent payslips and employment contracts are vital to determining income and financial stability. If you are self-employed, provide business financial statements and profit-and-loss reports. These documents are essential for child support, spousal maintenance, and financial negotiations.
6. Loan & Credit Card Statements
Obtain statements for any personal loans, joint loans, credit cards, and business debts. Understanding your financial liabilities is just as important as assessing your assets. This information ensures that debts are divided fairly and prevents unexpected financial burdens post-divorce.
7. Business & Investment Documents (If Applicable)
If you or your spouse own a business or have investments, gather business financial statements, partnership agreements, share portfolios, and trust documents. These records provide insight into income streams, assets, and potential complexities in the property settlement.
Why Gathering These Documents Matters
Having these financial records ready before your first meeting with a divorce lawyer saves time, reduces legal costs, and ensures a smoother process. It allows your lawyer to:
-
- Assess your financial position accurately
-
- Identify potential issues in asset division
-
- Strategize for spousal maintenance or child support claims
-
- Strengthen your case with concrete financial evidence
Let DIVeX Family Lawyers Help You Take the Next Step
At DIVeX Family Lawyers and Strategists, Kristy and our team are committed to providing expert legal guidance tailored to your financial and family situation. By preparing these documents in advance, you take the first step toward securing your financial future.
If you need assistance with your divorce or want personalized legal advice, contact DIVeX Family Lawyers today. We’re here to navigate this journey with you.