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Understanding Your Current Financial Picture
Before you can make an informed decision about divorce, you need a complete picture of your marital finances. Many people are surprised to learn they don't know as much as they thought.
Income sources to identify:
- Your salary and benefits
- Your spouse's salary and benefits
- Bonuses, commissions, stock options
- Rental income, investment income, dividends
- Side businesses or freelance income
- Retirement income (if applicable)
Assets to inventory:
- Bank accounts (checking, savings, money market)
- Retirement accounts (401(k), IRA, pension)
- Investment accounts (brokerage, stocks, bonds)
- Real estate (home equity, investment properties)
- Vehicles and recreational vehicles
- Valuable personal property (jewelry, art, collectibles)
- Business interests
- Life insurance cash value
- Cryptocurrency
Debts to document:
- Mortgage balance(s)
- Home equity loans or lines of credit
- Car loans
- Credit card balances (joint and individual)
- Student loans
- Personal loans
- Tax debts
- Medical debts
Request a free credit report from annualcreditreport.com to uncover any accounts or debts you may not know about.
Checklist
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