Tips for Gathering Information During the Divorce Discovery Process
The discovery process in a divorce is when both spouses gather and produce documents that will affect the divorce. Below is a quick overview of some categories of documents you can expect to be asked to produce.
- Bank documents: You will likely be asked for at least three years’ worth of statements from your financial accounts. The current balance of your accounts helps you determine the total value of your marital estate, but having years of data can provide a more holistic financial picture and can pinpoint the existence of unexplained withdrawals or expenses.
- Real estate: The largest and most valuable piece of property you and your spouse own together is probably your home. You will be required to gather information about the property’s value and debts, which will include mortgage statement, home equity lines of credit and other such information.
- Retirement accounts: If you have a 401(k), IRA, Roth IRA or other retirement account, you will need to provide statements for those accounts that show what you will be dividing.
- Tax returns: You may be asked to produce as many as five years’ wort of tax returns as part of the discovery process.
- Credit card statements: For any credit cards you have, you will be asked to produce up to three years’ worth of credit card statements in addition to information about your current balances.
- Insurance policies: There are some insurance policies (specifically life insurance policies) that have cash value that could be relevant to the asset division process in your divorce.
For more information on what to expect in the discovery process, meet with a skilled Long Island divorce attorney at Bryan L. Salamone & Associates.